Cupid co-founder Bill Dobbie will be replaced by current MD Phil Gripton
Cupid co-founder Bill Dobbie is stepping down as chief executive.
Phil Gripton, currently managing director, will replace Dobbie in the chief executive role on December 1.
Dobbie, who along with Max Polyakov founded online dating website operator Cupid in 2005, will stay on as a non-executive director of Cupid Plc.
In July, Polyakov acquired Cupid's casual dating websites in a deal valued at £45.1 million via his British Virgin Island's-based company, Grendall Investment.
Cupid said Gripton, who joined the company last year from bigmouthmedia, was “deeply involved” in the sale of the casual dating websites and remains “active in the subsequent separation activities”.
George Elliot, chairman of Cupid, said:"We are very pleased to have appointed Phil as CEO and believe that he is in a strong position to drive the business forward using his extensive and complementary skills and experiences to ensure Cupid delivers on its strategy.
“Notably, Phil's experience in digital marketing has helped the business improve effectiveness through changing the mix of Cupid's marketing channels.
“We are very pleased that Bill will remain on the board as a non-executive director supporting the business with his extensive knowledge of the company, its operations and the marketplace, particularly related to acquisition opportunities.
“Bill has led the group through IPO (initial public offering) and beyond and his decision to step down as CEO is at a time where Bill and the board have re-aligned the group's strategy and are now building upon a stronger more focused organization.”
In September, Cupid reported a pre-tax loss of £2.81 million for the first six months of the year despite total revenues rising 12.4 per cent to £43.3 million as marketing spend rose 18 per cent to £27.4 million.
Cupid's first-half trading performance included revenues from the casual dating sites it then sold but excluded gains made on the sale, which will be reflected in second-half results.
In March Cupid's market value halved amid allegations it was using fake profiles to lure potential customers to sign up for its subscription services.
Cupid, which operates Cupid.com, LoveAgain.com and UniformDating.com, was forced to commission an “independent' report” - conducted by its auditors KPMG - to investigate claims it used fake profiles to boost membership.
KPMG's investigation, in response to a BBC '5 Live Investigates' report broadcast in February, found no evidence Cupid was using fake user profiles, but did find Cupid's "motivation" staff on the sites were not clearly identified.