Foxtons has this morning announced that Patrick Franco, COO, will step down from the board today.
He is leaving the company to take up the role of vice chairman of Global Heritage Fund, where he has served on the board for nearly a decade. The Foxtons COO duties will be assumed by the CEO, Nic Budden.
Further to the announcement by the Company on 21 December 2021, with effect from today, Chris Hough joins the board as CFO and a director of the Company.
Nigel Rich, Chairman of Foxtons, said: “On behalf of the Board I’d like to thank Patrick for his contribution to Foxtons over the last 7 years and we all wish him well for the future. Cost control continues to be an area of focus, and over the last six months the Company’s actions have included simplifying its Executive and Senior Management structures.
“We are pleased to formally welcome Chris to a more streamlined Foxtons Board, and we are looking forward to working with him and the wider executive team as we continue to implement our growth strategy.”
Foxtons also announced today that further to the release of its preliminary results on 2 March 2022, it has today published its Annual Report and Accounts 2021.
In addition, the company has informed shareholders that its AGM will be held at Chiswick Park in west London on 15 June at 10am.
Copies of the Annual Report and Accounts 2021 and the Notice are available to view on the Company’s website. They will also shortly be submitted to the National Storage Mechanism and be available for inspection at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
After a few years of market sharing slipping, Foxton’s seems to have pulled their socks up recently.
In 2020, their market share for new listings of the London market hovered between 4.3% and 4.6% – whilst in the last 12 months its always tended to be around the 6% to 6.3%.
Must doing something right?
Any London agents seeing if Foxtons are doing anything differently?
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who cares
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Seems like everyone’s winning market share at the moment. So someone must be losing it.
@ChrisWatkin, who do see losing market share?
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