Countrywide PLC Directorate Change (7275C)
January 24 2018 - 1:00AM
UK Regulatory
TIDMCWD
RNS Number : 7275C
Countrywide PLC
24 January 2018
COUNTRYWIDE PLC DIRECTORATE CHANGE (24 January 2018)
The Board of Countrywide plc ('Countrywide' or the 'Company' or
'Group') announces that Alison Platt has resigned as Chief
Executive Officer of the Group and will stand down from the
Board.
The Board has asked Peter Long to become Executive Chairman to
which he has agreed until such time as a successor is appointed.
Paul Creffield, previously Managing Director, Commercial
Development has been appointed Group Operations Director with
immediate effect. Respected in the industry with extensive
experience in both Countrywide and the estate agency market he will
work closely with Peter. Paul's remit will now also include
responsibility for the Sales and Lettings Division.
The Board acknowledges the commitment Alison has given to the
Group and wishes her well for the future.
Alison Platt commented:
"Since joining in 2014 I have worked hard, within a difficult
market, to structure a fragmented business into one set for
success. I believe those actions will serve Countrywide well in the
future. However, the time is now right for me to step aside. I look
forward to seeing the business build back and return to
growth."
Peter Long, Chairman commented:
"In Countrywide we have a strong and successful business in
Financial Services, B2B and Commercial led by an experienced and
committed management team. Within our core Sales and Lettings area,
however, we have lost focus and a key priority will be to implement
changes that will enable this area to start delivering once again.
Working together with this experienced executive team I feel
confident we can return the business to profitable growth."
Additional information
The Group will give further details on its strategy at its
preliminary results on 8 March 2018.
Alison Platt's severance terms have been agreed and details will
be posted on the Company's website in accordance with section
430(2B) of the Companies Act 2006 as soon as practicable.
As Non-Executive Chairman of Countrywide, Peter Long currently
receives a fee of GBP180,000 per annum. The Remuneration Committee
proposes that Peter's annual fee is increased to GBP360,000 during
the period that he is Executive Chairman of Countrywide. Peter's
appointment as Executive Chairman is subject to regulatory
approval.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
-ENDS-
Contacts:
Media Investors
Press Office Himanshu Raja, Group
press.office@countrywide.co.uk Chief Financial Officer
investor@countrywide.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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