The board will now begin the recruitment process to appoint a new chief executive.

Former Meta vice-president Steve Hatch (pictured) was appointed YouGov chief executive in August 2023, with then-CEO Shakespeare becoming non-executive chair at the company. Shakespeare co-founded the business with Nadhim Zahawi in 2000.

YouGov said in a statement on its website today ( 4th February) that the board and Hatch had “mutually agreed” that he would step down from the chief executive position.

The move follows criticism of YouGov’s performance by activist investors Gatemore Capital. In January, Gatemore wrote to YouGov’s board to say that “management missteps” had created a gap between the company’s intrinsic value and its share price performance.

Shakespeare said: "On behalf of the board I would like to thank Steve Hatch for his commitment and support over the past 18 months, especially during a challenging time for the company. Steve played a crucial role in building and leading a strong leadership team and ensuring a smooth integration of the CPS acquisition. The board and YouGov team wish him every success in his future endeavours.

"I look forward to returning to the role of chief executive on an interim basis and to working with the broader leadership team as we execute against YouGov’s strategy to drive growth in the medium term."

Hatch said: "My sincere thanks to all at YouGov for their hard work and inspiration over the last 18 months. It is the right time for a change and I wish Stephan, the board and all at YouGov the very best for the future."

YouGov has also appointed Deborah Davis as non-executive chair of the board on an interim basis. Davis joined the board as a non-executive director and chair of the remuneration committee in June 2024. 

Non-executive director Andrea Newman has been appointed chair of the remuneration committee.

Additionally, the company plans to appoint another independent non-executive director later in the year.

Davis said: "I'm honoured to lead the board through this transitional period and will focus on maintaining my strong relationship with Stephan and driving strategic alignment between the board and the executive team. My priority will be to continue to foster collaboration and ensure decisions create lasting value for all stakeholders."