Carsguide CEO heads for the exit door

Carsguide CEO heads for the exit door

News Limited’s automotive website is to part company with CEO Michael Schreck.

Schreck, who joined the company two years ago, has led the business through its recent relaunch of the joint-venture between News Limited and a consortium of Australia’s largest car dealers.

Schreck said: “As part of our board discussions of the road that lies ahead, I reached the conclusion and advised the board that the time was right to begin a process to identify my successor, however, I look forward to working closely with the team and interim CEO to ensure a smooth transition, so that we continue to drive the business forward."

Greg Duncan, chairman of added: “The company would not be in the improved position it is in without his knowledge, relationships and hard work.”

The company said it will announce new management appointments soon.

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