The surprise news that Christopher Hamer is stepping down as Executive Chairman of Propertymark was broken by Property Industry Eye late yesterday afternoon.
The circumstances of Hamer’s appointment to the role has been the subject of some speculation and it was understood that his appointment was announced ‘post hoc’ to the 2017 AGM of NFoPP/Propertymark – Hamer having been appointed in 2016.
We are now able to clarify that the position of Executive Chairman came into being in 2013 and the first appointee was Michael Finn.
The NFoPP Mems and Arts stated: 33.3 An Executive Chairman shall be appointed by the Board for a three year term (renewable for a further period of up to three years, as the Board shall decide). The Executive Chairman shall act as a Director on such terms (as to remuneration and otherwise) as the Board shall decide.
Christopher Hamer was made an interim appointment to the post in 2016 and then confirmed in the post for a term of three years. We are told that this was explained to the 2017 AGM.
As to the future, it would seem that Propertymark is intent upon diminshing the influence and responsibility of the Executive Chairman role.
Yesterday’s statement to EYE said:
“We can confirm that Christopher Hamer has decided to stand down as Executive Chairman of Propertymark once a new Chief Executive has been recruited. The Chair’s role going forward will be non-executive as the new Chief Executive will take on the day to day responsibilities of running the business.
Christopher has been in the role for 4 years and in that time has overseen the move towards creating a single Propertymark organisation. The Board would like to thank Christopher for his significant contribution to the organisation and wish him well for the future.”
The new Chief Executive position will be an amalgamation of the roles held by Mark Hayward and David Cox as CEOs of NAEA and ARLA.
Cox departed in a shock resignation last month after being blocked by the Propertmark board from applying to become the new Chief Executive, and Hayward is due to retire at the end of this year.
There is currently no indication of who is in the running to take on the new role.
At least the Titanic had a captain as it hit the iceberg, HMS Propterymark has no-one at the helm. A good place to start looking for clues why, is the minutes of the annual accounts and the VAT debacle. Maybe the government will seek new safer partners to advise them on the regulatory framework that should be adopted to ‘steer’ the 6.5BN real estate sector in the UK. Starting with partners who understand and are in touch with the needs, wants and every day issues of being in the property sector, especially as it grapples with technology as other industries have and are doing.
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