AMSTERDAM--(BUSINESS WIRE)--Today OLX Group (“OLX”), a global marketplace leader that builds platforms to facilitate trade, announces the appointment of Christian Gisy as CEO.
Christian will be responsible for leading the strategy, growth and development of the company’s operations in Europe and South Africa, including for its high-profile brands like OLX, Otomoto, Standvirtual, Property24 and AutoTrader. He will report to Ervin Tu, Interim CEO of Prosus, one of the largest technology investors in the world and the owner of OLX Group.
Headquartered in Amsterdam, OLX is one of the fastest-growing classified businesses globally. In today’s macroeconomic environment, the ability for both company and consumer sellers to provide affordable products and services is more valuable than ever. OLX exists to enable buyers to afford things they would not usually buy as new, and to enable sellers to make extra cash and generate their own revenue stream. Every month, OLX platforms display more than 73m active listings, with more than 13m people posting items for sale.
As the former CEO of CinemaxX and AUTODOC, CFO of Scout24 Group and Managing Director of AutoScout24 Group, Christian has built a strong track record coupled with significant experience in delivering growth and value expansion at marketplace and eCommerce businesses. Christian also served as chairman of the Advisory Board at Avito - one of OLX Group’s former highly successful businesses.
Ervin Tu, Prosus Interim CEO, commented: “Christian’s experience as a CEO will bring important expertise and leadership to OLX Group as it continues to grow. Christian also has a deep understanding of the Classifieds sector and knows the Group well from a previous advisory role. We are delighted to welcome him to OLX.”
As well as focusing on business performance, profitability and growth, Christian will ensure innovation continues to be core to OLX’s overarching strategy. Tech developments, especially in Artificial Intelligence and Machine Learning, continue to drive innovation into the classifieds space and create new market opportunities and customer standards.
Christian Gisy, OLX Group CEO, said: “I am thrilled to join OLX and lead the business through its next phase of growth. OLX has fantastic talent, brands, data and technology - helping connect millions of people and businesses and enabling them to transact online. Added to that, OLX is using transformative technology, including AI, to bolster the circular economy, so we also have an important role to play in enabling a more sustainable future.”
Christian takes the CEO role after a period of sustained business progress at OLX. In November 2023, as part of Prosus’ HY24 results, OLX reported peer-leading growth of +32%. In the same period, the company’s trading profit more than doubled to US$94m, with trading profit margin increasing 12 percentage points, to 27%.
Lydia Paterson, outgoing OLX CEO, will take on the role of Operating Partner, overseeing Prosus Classifieds portfolio investments outside of Europe and South Africa, until retiring at the end of the year.
Tu added: “I want to thank Lydia, who has done an outstanding job leading OLX as its CFO for nearly seven years and as CEO for the past year. She has built a strong business and team and has been an instrumental part of the OLX journey. She will be missed by all colleagues.”
About OLX Group
OLX is a global marketplace leader that builds platforms to facilitate trade. Serving tens of millions of people around the world every month, OLX exists to enable buyers to afford things they would not usually buy as new, and to enable sellers to make extra cash and generate their own revenue stream.
OLX is the classifieds business of Prosus, one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
For more information on OLX, visit www.olxgroup.com. For more on Prosus, its companies and investments, visit www.prosus.com.