Foxtons picks Nigel Rich as chair

Foxtons has appointed former SEGRO and Hamptons International chair Nigel Rich to be its next chair. Rich will take up the post on 1 October, when Ian Barlow stands down as both chair and director. Rich will be paid £150,000 pa, of which £50,000 will be paid in shares. Barlow said: “Nigel is an excellent appointment and I am delighted we have secured someone with his capability and experience. It has, over the past eight years, been a great privilege to serve on the board of Foxtons, a prominent London business with a great future. Nigel has much to offer the board and the broader group and I wish him every success.” Senior independent director Alan Giles said Rich had been chosen following “a thorough and extensive search which decisively concluded that Nigel Rich was the outstanding candidate”. Rich said: “As the UK, including London, recovers from the economic effects of the pandemic, Foxtons is well placed to take advantage of the resurgent activity in the residential market. I look forward to working with the management team to accelerate Foxtons’ recovery and returns to shareholders.”   To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews