A new non-executive director has been appointed at Foxtons.
She is Rosie Shapland, who will be a member of the audit committee, taking over as its chair once Ian Barlow becomes chairman of Foxtons in the early part of this year.
Shapland, a chartered accountant by profession, will also be a member of the remuneration and nomination committees.
There was a shareholder revolt over executive pay last May, when 22% rejected the remuneration report. Despite an annual loss in 2018, chief executive Nick Budden and then chief finance officer Mark Berry were awarded £389,000 in bonuses, up from £371,000 the previous year.
Overall, Budden was given £910,000 and Berry £480,000.
After the vote, Foxtons said it acknowledged “the concerns raised by shareholders, in particular regarding the 2018 bonus outcomes.”
Last autumn it was announced that current Foxtons chairman Gary Watts is to retire before this May’s AGM, to be succeeded by Barlow. A new remuneration policy will be voted on at the AGM.
Yesterday, Watts said of the new board appointment: “Rosie has highly relevant experience which will be a significant addition to Foxtons. I and my colleagues greatly look forward to working with her.”
Shapland said: “I am delighted to be joining Foxtons, which is a well differentiated brand with a strong market position. I am looking forward to working with the board and management team.”
Yesterday, shares in Foxtons rose almost 2% to about 85p, near to their 12-month high of 88p at the end of last month.
However, the share prices is a long way off a five-year high of 285.5p in May 2015.
No way Jon hunt would have stood for that rubbish.
They’d be paying back 1 million for allowing the business to make a loss.
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They should bring back Pistol Pete. He’d sort it.
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Breaking:
Foxtons were delighted with the new recruit .
After signing a contract which will reward her another 1 million if she kills the company , Rosie was looking forward to the responsibility.
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