Countrywide chairman Robert Davies is stepping down from his role for ‘personal reasons’, the property group announced on Friday.
He was appointed to Countrywide’s board in only March of this year, and led the firm’s successful IPO when Countrywide floated on the London stock exchange.
Davies was previously on the board at Barratt Developments, was chief executive of Arriva, and has been a non-executive director of Northern Rock. He remains chairman of Home Group, a housing association, and of Euroports Holdings.
David Watson, independent non-executive director of the company and chairman of the audit and risk committee, will act as interim chairman with immediate effect.
In a statement, Countrywide said: “The board would like to thank Bob for his significant contribution to the group, both during the IPO process and in the early stages of Countrywide’s life as a public company.”
Comments
Not surprised, he probably took one look at the Property Management arm and realized what a klutz he'd taken on
Fleece, Yes but see the money, buy shares in what he runs is perthaps not a bad plan??
This is called 'having a laugh'...
Lead an IPO and leave with a pile of money.