On the Beach Group plc announced that Simon Cooper, the Group's Founder and Chief Executive Officer will step down from his role within the next 12 months and the Board announced that Shaun Morton, currently the Group's Chief Financial Officer, has been chosen by the Board to replace Simon as Group CEO. The timing of Shaun's appointment as CEO is dependent on the recruitment of an experienced CFO to work alongside Shaun to deliver the Group's growth strategy. Upon stepping down as CEO, Simon will remain on the Board as a non-executive Founder Director.

Shaun joined On the Beach in February 2018 and was appointed CFO in July 2020. During his time at On the Beach, Shaun has been instrumental in guiding the Group through COVID, leading on strategic initiatives including the investment in brand, technology and customer proposition and decision to capture share in the Premium, Long Haul and B2B segments. Since his appointment as CFO, Shaun has worked very closely with Simon on all operational and commercial aspects of the business, including the evolution of the strategy, which will ensure a seamless transition when he assumes the role of CEO.

Simon founded On the Beach in 2004 and has grown the business into one of the UK's leading online beach holiday retailers. When he takes up his new role as Founder Director, Simon will remain actively involved in the business and continue to work closely with Shaun. Simon remains a significant shareholder in On the Beach, having increased his stake on 19 August 2022.

The Board has appointed external consultants to support with a search process for a new CFO and will provide an update as and when appropriate.