Manchester-based FTSE 100 firm Auto Trader Group plc announced that Catherine Faiers intends to step down as chief operating officer in order to take up a CEO position at another UK listed company.

Separately, greeting cards and gifting platform Moonpig Group plc said Faiers will join Moonpig as CEO.

“The company will implement a smooth and orderly transition, with details of succession arrangements and the final leaving date for Catherine to be shared in due course,” said Auto Trader.

Autotrader CEO Nathan Coe said: “We are grateful for Catherine’s contribution to Autotrader over the past eight years.

“She has demonstrated extraordinary commitment, strong values and a deep care for Autotrader and its people, customers and shareholders.

“Catherine has been instrumental to many of the changes we have made in the business and will be missed.

“However, we are in the fortunate position to have a depth of talent at Autotrader enabling us to continue with our existing strategy and plans without interruption.  We wish her every success in her new role.”

Faiers said: “It has been a privilege and a true career highlight to serve on the board and leadership team of Autotrader.

“Being part of the team driving innovation and growth in a business whose data and technology underpin the UK automotive industry has been both inspiring and immensely rewarding.

“I’m proud to have contributed to shaping Autotrader’s strategy and growth during this pivotal period. I wish the entire team every success as they continue to lead and transform the industry.”

Moonpig Group said Faiers’ start date will be announced in due course. She takes over from Nickyl Raithatha who is stepping down as CEO after seven years at the business. 

Moonpig non-executive chair Kate Swann said: “Catherine brings a wealth of experience in e-commerce and public companies, with a proven track record of leading customer-focused digital, data, and technology transformations.”

Faiers said: “I’m excited to be joining Moonpig Group, a business with a clear purpose, a strong platform and an exciting future. The group has transformed the way people connect and celebrate through technology and creativity.

“I look forward to working with the talented team to drive innovation, bring joy to our customers and to deliver sustainable value creation for all of our stakeholders.”

Faiers’ gross annual salary at Moonpig will be £570,000 and her pension allowance will be 5% of base salary.

“The bonus and LTIP opportunity will be 150% and 250% of base salary respectively,” said Moonpig.

“She will be eligible for benefits including life assurance and private medical insurance. Catherine will also receive awards to compensate her for bonus and share awards forfeited on leaving her current employer.”