Clive Jacobs quits lastminute.com board

Lastminute.com, the online retailer, announced yesterday that Clive Jacobs was leaving after only a year as the company's vice chairman, prompting speculation that he had not got on with other board members.

Lastminute.com, the online retailer, announced yesterday that Clive Jacobs was leaving after only a year as the company's vice chairman, prompting speculation that he had not got on with other board members.

Mr Jacobs joined the group in March 2003 when Holiday Autos, where he was chairman and chief executive, was acquired by lastminute.com for £39.7m. The self-made businessman received £20m in cash and shares for his 48 per cent of the car hire company he founded.

In what appeared to be a great deal for lastminute.com, Mr Jacobs acquired a near 4 per cent stake in the online retailer, larger than that of Martha Lane-Fox and only just short of Brent Hoberman's holding.

His appointment as a company director raised questions about his compatibility with the two founders and Allan Leighton, the chairman. Mr Leighton said yesterday: "Clive has done an excellent job in helping us integrate Holiday Autos but we fully understand that he now wants to move on."

Mr Jacobs is on a six-month contract, which will entitle him to a modest payout based on his salary last year of about £200,000. He was not available for comment yesterday but appears to be leaving to pursue other business opportunities.

Lastminute said there had been no acrimony with Mr Jacobs, who is now free to sell his shareholding. Lastminute shares closed up 10p at 206.5p.