One of PurpleBricks‘ investors, Axel Springer, has replaced its representative on the company’s board.

A stock market update yesterday revealed that Ait Voncke has joined the PurpleBricks board as a non-executive director, replacing Dr Stephanie Caspar, who is stepping down from the board after two years.

Voncke (LinkedIn profile) joined AVIV Group, Axel Springer’s online classifieds business for real estate, as chief executive in Jan. 2021. Before that he was senior VP and general manager at Expedia Group, prior to which he was part of the team that founded Groupon in Europe.

Voncke started his career at Accenture, spending over 10 years advising technology firms globally, and in the later period of his time at the company, starting up its internet, media and technology team in Austria.

“Ait’s background and experience in the real estate sector will bring additional strategic insights and contributions to the company,” said PurpleBricks chairman Paul Pindar.

Earlier this month, the struggling U.K.-based hybrid real estate portal announced it was axing its money-back guarantee and increasing its prices.

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