Company has promised to review its bonus scheme after a significant number of shareholders did not back its remuneration committee report.

Foxtons to hold event today for investors and analysts to set out how it intends to grow the business after a disastrous few years.

Robin Paterson's 'activist investor' vehicle wants the estate agency's management to change direction and go for growth.

Both Peter Long and Paul Creffield are to step down as a heavy price for its effort to reduce the firm's heavy indebtedness.

Paterson owns Sotheby's Realty UK, helped expand Hamptons International and Barnard Marcus during the 1990s and recently set up an investment LLP to buy Countrywide shares.