March 24 (Reuters) - Trustpilot has appointed The Economist Group CFO Marcus Roy as its new finance chief on Tuesday, as the online review platform contends with increased scrutiny following
Trustpilot Appoints Marcus Roy from The Economist Group as New CFO
Appointment of New CFO and Company Developments
March 24 (Reuters) - Trustpilot has appointed The Economist Group CFO Marcus Roy as its new finance chief on Tuesday, as the online review platform contends with increased scrutiny following accusations by a short-seller and a recent fine from an Italian regulator.
Key Details of Marcus Roy's Appointment
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Board Membership and Succession
Roy will join Trustpilot board on September 14 and replace Hanno Damm, who is stepping down after more than a decade with the online review platform.
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Previous Experience at The Economist Group
Roy has served as CFO of The Economist Group since 2021, where he led financial strategy through its transition to a digital-first, subscription-led model.
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Earlier Roles in Finance
Before that, he was group financial controller at Associated British Foods and spent 14 years in senior finance roles at Dixons Carphone and Carphone Warehouse.
Regulatory and Market Challenges Facing Trustpilot
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Italian Regulator's Fine
Details of the Fine
Italy's competition regulator on Monday fined Trustpilot and its units 4 million euros ($4.64 million) for inadequate review checks and misleading consumers.
Trustpilot's Response
Trustpilot said it "strongly disagrees" with the findings and shall appeal.
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Short Seller Allegations
Grizzly Research Accusations
Last December, short seller Grizzly Research accused the company of creating fake profiles that gave negative reviews and then pressuring companies to pay for subscriptions.
Trustpilot's Denial
Trustpilot denied the allegations.
Additional Information
($1 = 0.8622 euros)
(Reporting by Nithyashree R B in Bengaluru; Editing by Sherry Jacob-Phillips)
