Lane Fox, who co-founded the company with CEO Brent Hoberman, said that now she had achieved her ambition to see the company move into profit, it was the right time for her to relinquish the post. She will remain as a non-executive director and a major shareholder.
Lane Fox said: "It has always been my ambition to see the group deliver a full year of profitability. Now this has been achieved, it is the right time for the business and the right time for me to explore other challenges."
Ian McCaib, who joined the online late deals website as chief operating officer in August from Nokia, where he was vice-president of 3G operations, will succeed her.
reported a 拢16m jump in pre-tax profits to 拢200,000 for 2003, up from a loss of 拢16.2m last time. Total transaction value grew 125% to 拢552.4m, boosted by a 98% jump in the fourth quarter.
Lastminute.com chairman Allan Leighton said: "Another set of results that clearly demonstrate the progress we have made, both in the quarter and the year as a whole. We have strengthened our position as the clear European leader in the online travel and leisure market and are well placed to take advantage of the continued growth in the sector."
Lastminute.com is also reviewing its 拢2m media account out of PHD.
Marketing director Vijay Solanki is understood to have invited seven agencies to pitch, including Naked, Rocket, Vizeum, OMD UK and BLM Media.
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