Trustpilot: Founding chief executive to step down after 16 years at the top
Consumer review giant Trustpilot has announced its founder and CEO will step down and take on a brand ambassador role instead.
Peter Holten Mühlmann, who created the Danish London-listed firm in 2007, will quit as chief executive and take on a new more symbolic role, of founder and non-executive director.
Trustpilot said he will focus on its ‘thought leadership’ after leaving the top team while continuing to work with it to ensure it is seen as a trusted consumer review site.
The board expects to begin the search for a new CEO soon, with Mühlmann continuing until that has been completed.
Mühlmann said “Trustpilot is a fantastic business with an exciting, global market opportunity, and I am truly thrilled to have the chance to focus my efforts and skills on promoting our brand and helping to drive the Trust agenda around the world.
“I have felt for some time that this is where I can make the greatest contribution and add the most value to Trustpilot in the years to come.”
Zillah Byng-Thorne, chair designate, called him a “a visionary entrepreneur, he founded Trustpilot and has been instrumental in building it into the successful, global business it is today. He will undoubtedly be a crucial asset to the Company as it continues to grow, and as we continue to execute on our strategy, helping to ensure that Trustpilot does indeed become a universal symbol of Trust.”
Following the news, Trustpilot’s share price was slightly down by under two per cent.