Foxtons Finance Officer Departs

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 Nomination Committees.

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 objectives.”

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.

Source Foxtons Group
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