Foxtons Group PLC Directorate Changes and Appointment of Chairman (7010N)
26 Septiembre 2019 - 1:02AM
UK Regulatory
TIDMFOXT
RNS Number : 7010N
Foxtons Group PLC
26 September 2019
Foxtons Group plc
("Foxtons" or the "Company")
Directorate Changes and Appointment of Chairman
The Board of Foxtons today announces the following changes to
the Board:
-- Following over six years as Chairman and in line with the
Board's succession plan, Garry Watts will retire from the Board at
or before the Company's AGM in May 2020.
-- Ian Barlow, currently the Company's senior independent
director, will succeed Garry Watts as Chairman.
-- Alan Giles, currently a non-executive director, will succeed
Ian Barlow as senior independent director.
-- Recruitment of a new non-executive director will commence
soon to succeed Ian Barlow as the chair of the audit committee once
he assumes the role of chairman of the Board.
-- Patrick Franco, currently chief operating officer, will join
the Board as an executive director on 1 October 2019.
Garry Watts said: "Foxtons is an excellent Company with a great
team, which it has been a pleasure to chair for the last six years.
A series of challenges to the health of the London property market
have impaired its recent trading performance but its balanced
business model, strong net cash position and robust operating
structure means that it is well placed to benefit from a recovery
in sales volumes. I am pleased that I will be succeeded by Ian
Barlow who has been a first rate non-executive and audit committee
chair."
Ian Barlow has served as non-executive director and chairman of
the audit committee since 2013. His appointment as Chairman follows
an assessment of succession options led by an independent
non-executive director and ensures continuity of leadership
following a number of Board changes made over the past 3 years. Ian
is senior independent director at Urban & Civic plc and a
non-executive director of The Brunner Investment Trust plc. He is
also a non-executive director of the Goodwood Estate. Ian was
previously Senior London Partner at KPMG.
Patrick Franco joined Foxtons as chief operating officer in 2015
and has since been responsible for key elements of the Company's
operations. He is also executive sponsor of the Foxtons LGBTQ+
network. Prior to Foxtons, Patrick was chief operating officer of
Credit Suisse Asset Management UK. He also serves as a trustee of
Global Heritage Fund.
There are no other details or disclosures required under LR
9.6.13R of the Financial Conduct Authority's Listing Rules
applicable to the appointment of Patrick Franco.
26 September 2019
For further information please contact:
Foxtons Group plc
Nic Budden, Chief Executive
Officer
Richard Harris, Chief Financial
Officer
Muhammed Patel, Investor
Relations +44 20 7893 6261
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END
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