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Foxtons Group PLC (FOXT)

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Friday 17 September, 2021

Foxtons Group PLC

Appointment of Chairman

RNS Number : 0646M
Foxtons Group PLC
17 September 2021
 

Foxtons Group plc ("Foxtons" or the "Company")

Appointment of Chairman

17 September 2021

 

Foxtons Group plc, London's leading estate agency, today announces the appointment of Nigel Rich CBE as Chairman with effect from 1 October 2021. The appointment follows the announcement of Ian Barlow's retirement as Chairman. Ian will step down as Chairman and as a Director on 1 October 2021 when Nigel joins the Board.

Ian Barlow, Chairman said:

"Nigel is an excellent appointment and I am delighted we have secured someone with his capability and experience. It has, over the past eight years, been a great privilege to serve on the Board of Foxtons, a prominent London business with a great future. Nigel has much to offer the Board and the broader group and I wish him every success."

Alan Giles, Senior Independent Director, said:

"The Nomination Committee conducted a thorough and extensive search which decisively concluded that Nigel Rich was the outstanding candidate. He has extensive board room experience as a Chairman, with listed companies and in the estate agency sector. This will be invaluable as we seek to build on recent business momentum and deliver significant shareholder value in the coming years. On behalf of the Board I would like to thank Ian for his dedicated service and unstinting commitment to the business."

Nigel Rich said:

"I am delighted to take on the Chairmanship of Foxtons, a leading and well known London estate agency. As the UK, including London, recovers from the economic effects of the pandemic Foxtons is well placed to take advantage of the resurgent activity in the residential market. I look forward to working with the management team to accelerate Foxtons' recovery and returns to shareholders."

 

En quiries

 

Foxtons Group plc


Alan Giles, Senior Independent Non-Executive Director

Muhammad Patel, Investor Relations Manager

+44 20 7893 6261

[email protected]



Sanctuary Counsel


Robert Morgan / Rachel Miller

+44 7557 413 275 / +44 7918 606 667

 

Nigel Rich biography:

 

Nigel Rich CBE has extensive UK and international, listed company and Board experience in a career spanning more than five decades. Nigel qualified as a Chartered Accountant before joining Jardine Matheson where he spent 20 years working in a variety of roles primarily across Asia, including being Managing Director of Hong Kong Land, a leading Hong Kong property company, and thereafter Managing Director of Jardine Matheson Holdings.

Nigel has previously served as the Chairman of Hamptons International, the estate agency group (1997-2005), Exel plc (1997-2005), CP Ships Limited (2001-2005), Xchanging plc (2006-2011) and SEGRO plc (2006-2016). He has also held numerous non-executive director positions at companies including Granada Group plc, ITV plc and Harvey Nichols Group plc. Nigel has also served as a Member of The Takeover Panel (UK) and has been a member of the Finance and General Committee of the R&A.

Nigel is currently Non-Executive Chairman of Urban Logistics Reit plc and Senior Independent Non-Executive Director of AVI Global Trust.

Notes:

Nigel Rich will be paid £150,000 per annum, of which, £50,000 will be paid in shares at the prevailing market price.

Nigel Rich is a UK national. In accordance with the Listing Rules, there are no additional matters that would require disclosure under 9.6.13R of the Listing Rules of the UK Financial Conduct Authority in respect of his appointment.

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