Britain’s biggest estate agency group has embarked on a hunt for a new boss, paving the way for the eventual departure of its high-profile chairman.
Sky News is this evening reporting that it has learnt that Countrywide, which owns the Hamptons International and Bairstow Eves brands, is working with headhunters on a search for a chief executive.
Countrywide’s value has shrunk drastically since 2007, when it was acquired by the US private equity firm Apollo Management in a deal worth £1bn.
On Tuesday, its shares closed at 118.75p, giving it a market value of just £38m.
In 2018 Long left Royal Mail just weeks after a bruising encounter with shareholders in which just over 34% of them voted against his reappointment at the company’s annual meeting.