The disappearance of Foxtons founder, president and CEO Glenn Cohen from the company’s Web site and his several-days’ absence from the corporate headquarters have created some media speculation about the controversial cut-rate commission company and the impression that something might be amiss or at least afoot.
Cohen’s picture and his comments about the origins of the company previously were featured on the company’s Web site, according to the Wayback Machine, an online archive of Web pages.
Neither Cohen nor a company spokesperson returned telephone calls last week. The spokesperson, who said she “used to be” Cohen’s assistant, today wouldn’t confirm whether Cohen is still employed by Foxtons. Another source at the company today said that contrary to news reports the CEO isn’t missing and currently is still with the company. More information is expected to be disclosed tomorrow.
The company’s corporate offices and a 100-person call center are located in West Long Branch, N.J. Brokerage operations are located in New Jersey, New York and Connecticut.
The company was founded as YHD Realty and changed its name to YHD Foxtons after London-based Foxtons Real Estate invested $20 million in the U.S. operation in early 2001. The company dropped the YHD from the company’s name in April 2003.
Foxtons has a reputation for aggressive advertising of its “2 percent” commission rate on highway billboards in the New Jersey area. Cohen recently appeared in a local television advertising campaign that reportedly stirred up a controversy at a local CBS affiliate because the advertising spots too closely resembled a news broadcast.
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