Your Move and Reeds Rains parent announces incoming director Adrian Gill

The former non executive director will take over from David Newnes who is set to retire after 35 years

Adrian Gill
Adrian Gill

Newcastle-registered LSL Property Services plc has announced Adrian Gill as the successor to its executive director of Estate Agency, as David Newnes is set to retire after 35 years.

The London Stock Exchange-listed firm said Mr Gill will assume the role of executive director of Estate Agency in the New Year, subject to approval from the Financial Conduct Authority.

As the parent company of Your Move and Reeds Rains, LSL saw group revenue rise by 18% to £139.8m, in the six months to June 30, 2014.

In the Estate Agency division, revenue increased by 20% to £108.6m and underlying operating profit rose 46% to £12.2m.

The period saw the group as a whole generate a rise in pre-tax profit of 275% thanks to an £18m disposal of its shareholding in Zoopla.

In a statement to shareholders, LSL thanked Mr Newnes for his contribution to the business, including his five years on the company’s board.

Mr Gill has been a non executive director of LSL since 2012 and previously served on the board of Connells for ten years before joining LSL. He held positions as group finance director and commercial director at Connells.

David Newnes said: “I am very pleased and proud to have been part of LSL through the MBO and IPO, leading the estate agency team that has driven substantial growth in the business.

“I remain a shareholder in LSL and look forward to the Group’s continued success. I am delighted to be handing the role over to Adrian Gill who has a wealth of experience in estate agency.”

Ian Crabb, group chief executive, said: “David Newnes has been a key member of the management team over many years and has made a substantial contribution to the business. We wish him well for the future.

“I am delighted that Adrian is joining the executive team and I am confident that he will make a valuable contribution to our future development and growth plans.”

LSL also announced Helen Buck, as non executive director, will join the Nominations and Remuneration Committees with effect from November 24 2014.

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