Paul Bassat, co-founder of employment website SEEK Limited (ASX:SEK) has announced his intention to step down as joint CEO and director at the end of FY11.
His brother, co-founder and joint CEO Andrew Bassat will take over as sole CEO from July 1, 2011.
Paul Bassat will likely rejoin the SEEK board in 2012 as a non-executive director, Seek said.
“A transition plan has commenced and will be completed before Paul's departure,” SEEK chairman Bob Watson said.
SEK shares are today trading 1.49% higher at $7.470.
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