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TODAY'S OTHER NEWS

Yopa on the hunt for new CEO as Ben Poynter stands down

Hybrid agency Yopa has announced that its chief executive, Ben Poynter, will be standing down at the end of October to 'pursue new opportunities'.

The company's chairman, former Countrywide chief executive Grenville Turner, will lead the search for Poynter's successor, the agency has confirmed.

Yopa says that Poynter's departure follows the successful completion of its recent round of fundraising, in which the agency secured £16 million of additional investment.

"Since taking over as CEO Ben has led the business through a period of substantial change, improving the financial performance and laying the foundations for the future success and growth of the company," says Yopa, in a statement issued yesterday afternoon.

Formerly the agency's chief financial officer, Poynter became chief executive in April 2018 as co-founder and former chief executive Daniel Attia became chairman.

"First and foremost, I would like to thank all the employees and agents for their commitment to help build what is a very special company and I wish them all the very best for the future," says Poynter.

"I’m proud to leave the business with strong foundations to build on and am confident that Grenville Turner, a seasoned executive in the property sector, will help Yopa appoint a new CEO to lead Yopa through its next phase of growth in the coming months."

Grenville Turner adds: "Ben has made a huge contribution to the business, turning a young start-up company into a professionalised outfit with clear strategic direction and a culture that we are all proud of."

"On behalf of the board, I would like to thank him for his dedication and professionalism and wish him the very best for his future endeavours."

Yopa's latest round of fundraising was completed in August, bringing the total invested in the firm - which has reportedly yet to make a profit - to £91 million since 2016.

At the time of the announcement, Grenville Turner was named chairman and speculated about whether the agency could float on the stock market in the future.

It was also revealed at this point that LSL Property Services chief executive Ian Crabb had resigned from the Yopa board and that LSL had declined to invest further in the hybrid firm.

*Graham Norwood is on annual leave, returning on October 14 2019. Conor Shilling will be undertaking editorial duties in his absence. Please direct all stories and enquiries to press@estateagenttoday.co.uk

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    I'm on annual leave next week so can help out if they need it!

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    With current market conditions, it's going to be extremely challenging for Yopa but good luck to you Ben I hope you can turn things around.

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