Foxtons Group Plc have announced that Mark Berry, an executive director and Chief Financial Officer of the Company, will be leaving the business by mutual agreement in July.
The company have appointed
Richard Harris as his replacement, to join the Board in late June. Harris was
previously Group Financial Controller at Laird plc and prior to that spent over
11 years at Marks and Spencer plc. Alan Giles will also be appointed as a
non-executive Director of the Company and member of the Remuneration, Audit and
Garry Watts, Chairman of
Foxtons, said of Berry’s
departure: “On behalf of the Board and everyone at Foxtons, I would like to
thank Mark for his substantial contribution over the past two and a half years,
during which time the business has undergone a period of rapid change and
development. We wish Mark every success in his future new challenges. We are
delighted to welcome Richard to our team. His skills and experience are a great
fit for the Group and will be invaluable as we continue to pursue our strategic
Separately the Group’s
latest Trading Statement announced that revenue for the first quarter of 2019
was £23.8m compared to £24.5m in the first quarter of last year. It said that
performance was ‘in line with the Board’s expectations’ with Brexit continuing
to impact the sales business.
The Trading Statement suggests Foxtons is doing as well as can be expected right now but few will believe that this is what the board, who had a bumpy ride at the AGM, really expects. It will be interesting to discover what further strategic changes occur at Foxtons over the rest of 2019.