Tim Balcon, the CEO of Propertymark, has resigned from his position at the trade association just five months after joining.
The bombshell announcement by Propertymark makes no mention of the reason for his sudden departure, although speculation had been building after Balcon began cancelling pre-arranged appointments with industry contact a few days ago.
This resignation is a hammer blow for Propertymark; Balcon was to spearhead a unification of the multi-brand association under one name and lead the growth of its training and skills services ahead of RoPA.
But the Board of Propertymark has accepted his resignation, and Balcon will step down as CEO today after handing over to Interim Executive Chair, Nicky Heathcote.
Heathcote says: “We thank Tim for his time at Propertymark and wish him well for the future. The Board look forward to driving the strategy forward and shall continue to provide the highest level of support and guidance to our members.”
“Sadly, I believe it is in the best interest of Propertymark and myself for me to step down at this point in its development.
“I wish to convey to all Propertymark members my gratitude and respect for the way in which they have embraced my leadership. Equally I wish the Board and in particular the exceptional staff at Propertymark my best wishes for the future.”