Countrywide has appointed a new non-executive director. Lisa Charles-Jones was previously with LSL for 13 years, until 2016, the last ten as group HR director.
She has also previously been a director of Reeds Rains and Your Move, and is currently a non-executive director at Tracsis while holding directorships at the Percy Hedley Foundation and at housing association Bernicia Housing.
She takes up her new appointment with Countrywide on June 26 and will be a member of the remuneration committee.
Executive chairman Peter Long said: “Lisa brings valuable experience within the property sector and will be the non-executive director employee engagement lead within the Countrywide plc board.”
The appointment is subject to FCA approval.
Countrywide has also announced that Jane Lighting will be stepping down as non-executive director on June 26.
Charles-Jones and her PR expertise may be timely for Countrywide.
The company has been closing a number of branches but has declined to clarify numbers or the offices involved. It is also understood to be letting go around three dozen staff working in sales progression. Yesterday Countrywide shares remained at below 4p, closing almost 1% up over the day at 3.75p.
Well at least she has plenty of skin in the game unlike many of those who accumulate non -executive directorship roles like boy scout badges.
However it;s a case of too little to late .A ponderous set of BODS who were slow to adapt to changing market conditions.and bin Platt Still had the chequebook out on a buying spree when storm clouds were gathering and now paying the legacy price with a £70m debt overhang despite major share dilution.
The current SP at 3.76p ,many are saying the only way is up.The sum of the parts greater than the whole hypothesis II’s a Catch -22 selling the cash cow Lambert Smith Hampton would takeaway a huge chunk of revenue servicing the debt .The price achieved would need to make a huge hole in the debt. However having failed to sell LSH in a market in happier times unlikely to attract today a sufficentally high offer to make it worthwhile.
The problem they have now is the various brands splintering off on their own accord effectively gratis to avoid the debt Who can blame them!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
How can they splinter off on their own accord?
Surley the separate brands can only be sold off with board approval?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
That is 100% correct all existing and dormant trading names are owned by CWD so they cannot just ‘ do their own thing’. Oh and don’t call me Shirley. lol.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Well history has shown us in estate agency that it’s the people behind the “brands “that count. The main . fee earners disappear off leaving the”brand” behind but taking the clients with them.
Certainly the case with commercial agents .ask BTW Shiells who have disappeared and been bought back by Countrywide in its various guises.In other situations iff the high fee earners of xyz ltd turn to the board of CWD and say we are off but we like to keep the name which we are prepared to offer a token amount for otherwise we will start up as Carruthers,Fortescue and Smythe using some of the money you bought us for a few years earlier there is not a lot they can do.
It’s the way of all flesh .
This was the case with a number of the agencies bought by the Prudential prior to them leaving the estate agents business.One of which having been paid £100 paid £5 to get out 15 months later buying their name back paid for by 1 months invoices held back
Having said all that looks like somebody is having a nibble CWD share price currently up 17% today !!!!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
All over by September – for sure.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
First a wave of IT personnel redundancies, then branch closures, now sales progression personnel, very soon even the top executives in their ivory tower will feel the reality that making multi-million-pound losses is a stupid idea and decide to exit or be helped on their way.
If you look at the composition of the board and their lack of industry knowledge, or the sound bites that have been coming out since the departure of Platt from supposedly experienced directors – it is clear that this slow-motion car crash could have been minimised 6-months ago.
A one off – closure of non-profit making offices (a big list) the sale of some of the assets (a smaller list) a one-off programme of redundancies – with perhaps franchises being offered to the brave who could make marginal offices CW is a classic example of a business being run as though we were back 35 years ago. profitable if not constrained by ingrained and outdated practices.
Countrywide – the clue is in the name – maybe it should be less of huge flabby loss-making empire sprawling across the country – and cut itself down to size – and become a lean keen selling machine.
Another major problem it has, is that CW is top heavy with many middle aged and older personnel – I am not being ageist I am 56, but young blood often helps, because in 10 years – the usual cycle of a successful business these people become the mature advocates whose core values carry companies into profitable times.
In the mid 1980’s when agency exploded in the UK with banks and building societies buying up small independent agents to sell their financial wares, lots of 20 something estate agents joined the industry, and their work, motivation etc powered the movement. Many of these people are now in high places, but estate agency has changed, time to renew and have some clear vision for that 20-20 market only months away.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
You bring in a director whose previous experience is HR. Not sales experience. That can only mean they have appointed someone who has experience of dealing with staff, which means redundancies. I feel sorry for the poor loyal staff, a bit like the trenches during WW1 some bloated general giving the orders from well behind the lines. About time they fell on their swords, spineless individuals they are.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Another example of how far Countrywide has fallen!
HR person comes in as Non Exec at CW which has serious trouble with its estate agency function.
Replacing another Non Exec whose skill set had no real estate agency experience at a time when the share price has collapsed.
Countrywide needs some top quality leaders to sort out its operation on a daily basis not different Non Execs !!!!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register