Sear is to leave next month. It is thought he does have another job to go to but the company declined to say with which brand when contacted by Marketing Week.
A spokeswoman for Weve adds it will announce its new CEO “in due course”, suggesting a successor has been lined up.
The company has been expanding its portfolio under Sear’s leadership this year, most recently unveiling food chain EAT as the first brand to trial its loyalty app Pouch.
In its first financial disclosure to Companies House, the company reported revenue of £12.7m for the six months to 31 December 2013. However, operating expenses of more than £30m meant it made a loss of more than £24m in the period.
Sear was made CEO at the joint venture’s inception in February 2013. He was previously chairman of telecoms technology provider Semafone and mobile analytics company Bango.