The City seemed unmoved by the announcement yesterday that Countrywide executive chairman Peter Long has stepped down from Royal Mail to concentrate on turning round the UK’s largest estate agent.
Shares in Countrywide finished yesterday up 0.4%, at just under 11p.
Shares in Royal Mail inched down about 2%.
Royal Mail said in a statement to the stock exchange yesterday that Long’s commitment to Countrywide “will remain in place for the foreseeable future”.
At Royal Mail, Long was at the helm during months of shareholder revolt over pay.
Its new chief executive, Nico Back, who gets a pay package worth up to £2.7m a year, was given £6m as a golden hello earlier this year. Departing chief Moya Greene was handed a £2.6m golden goodbye.
Meanwhile, Purplebricks shares continued their recent slide and fell 6% yesterday to finish at 223p – the lowest they have been since February 2017, although still well above their £1 launch price in December 2015.
Comments (3)
Good news everyone having given you the benefit of my time and lack of understanding of the business over the last few years with the subsequent removal of pretty much anyone who knew what they were doing in running a highly profitable and market leading Estate Agency/Lettings business on a part-time basis i am now here full time!
NUTS.
No wonder they are going bust.
These figures are ludicrous.
Surely handing someone 6 million big ones just to join isn’t as useful as, say, 6 million big ones on, say, directly fixing everything.
…and 2.6m to be fired. Jesus wept.