On behalf of Trade Me, chairman David Kirk acknowledged the scale of Mr Macdonald's contribution. 'Jon has done an enormous amount to grow and shape Trade Me over the last 15 years,' he said.

'When Jon started, Trade Me was a company of around 15 staff, still finding its place in New Zealand. It's now a company of over 600 people and is recognised as one of New Zealand's most loved and trusted brands. We're hugely grateful for the enormous amount of personal energy and care he's put into his work here, and we wish him all the best.'

Mr Macdonald said it had been 'a privilege' to work with so many passionate and talented people. 'I'm very proud of the business we've built together and all that we've accomplished. But after leading Trade Me for over 10 years, it's time for me to take a rest and then do something new.

'Trade Me has a long and bright future, with more to do than ever, and it's a good time to pass the baton to someone with fresh eyes and a full tank of gas. I'd like to thank the board and the team for all their help and support, and I'll be leaving the business in good hands. I'll be leaving with a lot of fond memories, and great affection for the people here.'

The Trade Me board will start a global recruitment process, and will work with Mr Macdonald over the coming months to ensure a smooth transition.