Essensys CEO Mark Furness to Retire After Two Decades
Portfolio - People | Mar 13, 2025 | Business Cloud
Essensys, a listed technology and software provider, announced the retirement of its founder and CEO, Mark Furness, after nearly two decades at the helm. James Lowery, currently the COO, will take over as CEO on May 1, 2025. Before joining Essensys, Lowery co-founded Storey, a leading flexible office brand under British Land, and held strategic consulting roles at Booz & Company with a focus on real estate innovation. Furness will remain as a non-independent non-executive director. The company's succession plan underscores confidence in Lowery's leadership, as he's expected to advance Essensys in the flexible workspace market. The announcement comes alongside a notable rise in Essensys' share prices from 21.5 pence to 34 pence, bringing its market capitalization to £22 million.
Sectors
- Technology
- Real Estate
Geography
- United Kingdom – Essensys is a London-based company listed on the London Stock Exchange, operating within the UK market, which is significant to its business operations and leadership transition.
Industry
- Technology – Essensys operates in the technology sector, providing software solutions, which aligns with the industry's focus on digital innovation and software products.
- Real Estate – The company's involvement in the flexible workspace market connects it to the real estate sector, particularly in PropTech, which blends technology with real estate services.
Financials
- £22 million – Market capitalization of Essensys as of the article date.
- 21.5p to 34p – The rise in Essensys' share price over the past 12 months.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Essensys | Target Company | Company | A technology and software provider, specializing in solutions for the flexible workspace industry. |
| Mark Furness | Outgoing CEO | Person | Founder of Essensys and its CEO since 2006, now transitioning to a non-executive role. |
| James Lowery | Incoming CEO | Person | Current COO of Essensys, set to become CEO in May 2025, has a background in strategy and real estate innovation. |
| Booz & Company | Strategy Consulting | Company | A consulting firm where James Lowery previously worked, specializing in strategy development. |
| British Land's Storey | Former Company | Company | A flexible office brand co-founded by James Lowery, highlighting his expertise in the flexible workspace industry. |