Estate agency franchise giant LSL has unveiled its new permanent CFO, who will start in the role in January.

David Tilak moves from public services group Serco, where he has been Group Financial Director for just over a year.

He previously held leadership roles at companies including General Electric, and Imperial Brands, formerly Imperial Tobacco, where he progressed during six years there to become Group FD.

Proven track record

“With 25 years’ experience of strategic, financial and operational roles across complex businesses in a range of industries, David has an impressive and proven track record of driving and delivering growth through strategic investment and transformation,” LSL said in a statement to the City.

Tilak takes over as CFO on a permanent basis from new CEO Adam Castleton, who only took up the reins in May.

Castleton, who before joining LSL in 2015, also had a non-property background including stints with eBay, 02 and The Walt Disney Company.

David Wolffe has been filling the CFO role on a temporary basis, and will complete the handover in the New Year.

Extensive search

Adrian Collins, Chair of LSL, says: “David’s appointment comes after a rigorous and extensive search process, and will help bring a sharp focus to the financial aspects of the Group reinvigoration which we have underway.”

In May, LSL announced a bumper share package for directors and senior executives.

Transformed

The company, which owns Reeds Rains and Your Move, transformed its operating model in 2023 by switching all of its branches to franchises. And in November last year, it also launched a new ‘hybrid associate model’ for self-employed agents.

LSL has 62 estate agency franchisees operating in 310 territories, making it one of the biggest providers of franchise services in the UK.

It recently saw its results even out in the first six months after skyrocketing last year.

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