Martin Hosking is stepping down as CEO Redbubble, the marketplace he co-founded for independent artists to print their designs on clothing and homewares.

Mr Hosking, who had been CEO since 2010, will be replaced by Redbubble’s chief operating officer Barry Newstead.

He will continue to be involved with the $330 million company as a non-executive director on the Redbubble board and as a shareholder.

A short time ago the shares were down slightly to $1.57.

Tech stock expert Tim Knapton profiled Redbubble in this Stockhead column last year.

Richard Cawsey, chair of the Redbubble board, said: “Since co-founding Redbubble in 2006, Martin and his leadership team have delivered year after year of outstanding growth.”

Mr Newstead said: “I am delighted to be appointed MD & CEO and look forward to continuing to build on the many outstanding achievements of the company to date.

“I am deeply committed to the business, our mission, and potential for sustained growth and value creation. I am proud of what we have built under Martin’s leadership and energised by the opportunities for Redbubble.”

His base pay will be $500,000, plus short and long term incentives.

Redbubble has been involved in a number of high profile copyright infringement cases, including being embroiled in a legal wrangle with Pokemon Company International.

 

This article first appeared on Business Insider Australia, Australia’s most popular business news website. Read the original article. Follow Business Insider on Facebook or Twitter.

 

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