Trouva co-founder Mandeep Singh has stepped down from his role as CEO of the online marketplace for independent retailers, after six years.
Singh has been replaced by his fellow co-founder Alex Loizou, who has until now been chief technology officer (CTO) and chief product officer.
Loizou has been CTO since 2013, and had been taking on more leadership responsibilities in recent months.
Singh will remain on the board but will not be involved in the day-to-day running of the marketplace.
He said: “After almost four and a half years as Trouva CEO, I decided the time was right to handover the CEO role to my brilliant cofounder Alex Loizou. Alex has been part of the journey from day one and after our stellar 2019 and $22m (£17m) fundraising in November, I can’t think of anyone better to take the company I love to the next stage.
“I will continue to work at Trouva and be a director, and in these times when independents stores across Europe have had to close their doors, I couldn’t be prouder of the work the team is doing to keep independents across Europe trading and thriving online.”
Loizou said: “I will be taking over the CEO role at Trouva from my longtime co-founder Mandeep Singh who will continue to be part of our journey as a director. Mandeep and I came together over 7 years ago to build a platform that takes the world’s best independents online.
“I’m excited to lead Trouva to its next chapter as we spearhead a future powered by the master curators of the offline world.”
Last November, Trouva secured £17m in a funding round with investors to help it expand its presence in mainland Europe.
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