Weve - the joint venture between O2, Vodafone and EE - has confirmed that its CEO David Sear has resigned from the business after being in the role for just over 18 months.
A statement read: "We can confirm that our CEO, David Sear, has accepted a new role and will be leaving Weve in due course. David will continue to lead Weve through the transition and at this busy and successful time for the company. We have no further details to share at this stage and will be making details of our new CEO public in due course.”
Sear is to remain as CEO over the course of the summer until a replacement is found.
Under his tenure, Weve posted £13m in revenue for its first year. At the time, Sear told The Drum that to have achieved that figure in year one was "something [it was] pleased with" but said the ongoing challenge was to accelerate the display ad service.
In February this year, the B2B joint venture brought in Eat as the first brand for its loyalty app, Pouch, and embarked on a partnership with Mastercard to drive the development of mobile contactless payments in the UK.