Eric Walker has left his role as managing director of Belvoir, seven months after being appointed.
A long commute, together with the frequent need to stay in hotels to be close to work, is behind his departure.
Walker was promoted last August after a five-and-a-half year stint as managing director of Northwood.
He was with Hampshire-headquartered Northwood when it was sold to Belvoir in 2016 in a £22m deal, and he went with the business.
He originally joined Northwood after the death of his friend, the then managing director Nick Cooper who had made it clear that he wished Walker to succeed him.
Before joining Northwood, Walker was briefly a regional managing director with Your Move, responsible for the south-east, and prior to that was managing director at London firm Bushells until its acquisition by the firm now known as Portico.
Walker left Lincolnshire-based Belvoir last Thursday with no update on what his next role might be.
Group CEO Dorian Gonsalves paid personal tribute: “Eric wasn’t particularly enjoying travelling to Grantham from London, and being away from home for three nights each week wasn’t ideal for him.
“We have parted on amicable terms and we remain great friends, as we have been for many years even prior to Northwood becoming part of the wider Belvoir Group.
“Eric has made a significant contribution to Northwood in recent years, and to Belvoir in recent months, and I wish him every success in a new role closer to home.”
All the very best Eric, I’m sure you’ll be missed and wish you all the very best with your plans. Quality of life and a good work life balance is a vital part of happiness and health.
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Eric’s a legend , and will be an amazing asset wherever he goes next
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Yes a loss of a major asset to Belvoir and wish him well .Surprised that such an important departure hasn’t warranted a RNS
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Common sense dictates that often, founding directors once sold out, lose the fire in the belly and hang on until the tie in time expires and enjoy their proceeds of sale. However, those with ambition would surely realise that now that Belvoir is a PLC which has grown alot in recent years, these are exciting but challenging times. You would want all of the top names to be fired up; its a new game! With a big job come responsibilities and if he was committed to being a city player, he’d move home to be near work…just like all other ambitious directors. He resigned as a Director from Northwood last year and his name is not on the Belvoir directors list at all! That’s why there is no RNS and I guess his departure is good for both sides
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Yes you are correct he does not sit on the main board .However Eric chose to take his further payout in respect of the acquisition in shares( which warranted a RNS) as opposed to hard cash which does seem to indicate some medium term commitment
Could be of course that their growth might be a little more pedestrian as the market dictates-steady as she goes.and not a lot to be fired up about .The major shareholder of retirement age probably looking to cash in his chips
Maybe Eric has a slight aversion to the colour purple. Good luck to Eric and Belvoir.Belvoir are part of a very small club of listed estate agents who consitentally perform with merit
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All the best Eric, family and personal happiness should always come first.
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All the very best with your next venture Eric, you will be missed
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Eric, I know where you are coming from having done a 10 year stint living out of a suitcase. No quality of life, those boring evenings after that meal! Life slips by and not recommended to anyone.
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Jim
As a Northwood franchisee now woven into the Belvoir fabric.How have you found the transition and what are your thoughts on Belvoir?
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Now we can get on with trying to face the challenges of the industry
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Out of interest, what do you expect from your M.D?
You are franchises at the end of the day and largely your success is based on what you do not what an M.D. does or does not do.
From what i understand, They offer a competitive franchise agreement. They are compliant and there is central advertising.
Other than the M.D. installing targets franchises MUST hit or have their license revoked not sure what more of him or others you can ask of them.
Obviously i have a great deal of admiration for Eric, but this is a genuine question not meant to be loaded.
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Thanks for that. Always a concern from a shareholder perspective that the successful franchisee reaches the point when its cheaper and better to go solo .The unicorn landlord who handsover a a national portfolio of managed properties to Belvoir who distributes them amongst the network -a mythical beast
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Show me a M.D that provides this?
Reading between the lines you have a failing franchise and you are looking to avoid the blame yourself.
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Smile Please: what an extraordinary comment! You mean “show me an MD that sets the vision, builds the strategy capable of delivering that vision, provides the tools, the training, the personnel support, to get the people driving towards the objective, and the energy drive and personal example that makes the plan realisable”.
Well, pretty much any MD, in any industry, anywhere in the world…if they are any good.
And that’s the point.
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