People Moves: Foxtons appoints Guy Gittins from Chestertons as Group Chief Executive Officer

Press Release - Foxtons Group plc (LSE: FOXT), London's leading estate agent, is pleased to announce that Guy Gittins has been appointed Group CEO with effect from 5 September 2022. He joins Foxtons from Chestertons, the London and international residential property specialist, where he is currently Chief Executive, and replaces Nic Budden, who has stepped down from the CEO role he has held since 2014.

Guy has significant sector and leadership experience. Since his 2018 appointment as Chief Executive of Chestertons, he has exponentially grown EBITDA, and transformed the business into a technology led, performance focused business, winning market share; increasing sales in each year; and significantly growing the lettings business both via acquisition and organically.

Guy started his early career at Foxtons, leaving in 2007 to become Sales and Marketing Director for Peter de Savary. In May 2010 he joined Savills, before moving to Chestertons in 2012, as head of their flagship Chelsea office.

Peter Rollings, currently a Non-Executive Director and former Managing Director of Foxtons, will act as interim CEO with immediate effect until Guy takes up his appointment. Peter is a highly experienced industry figure who was CEO of Marsh & Parsons from 2005 to 2016.

Nigel Rich, Chairman of Foxtons, said: 

"On behalf of the Board of Foxtons I am delighted to welcome Guy back to the business. His experience and success at Chestertons should be invaluable to Foxtons as the company continues its drive to improve profitability. I would like to thank Nic Budden for his commitment to Foxtons over many years. Over the last few months since I became Chairman, Nic has initiated a number of actions to improve the profitability of the business which have had a positive impact, and we all wish him well for the future. I am grateful to Peter Rollings for taking up the interim CEO role; we are fortunate to have his significant expertise on the Board."

Guy Gittins, CEO designate of Foxtons, said: 

"I am incredibly excited to be returning to where I started my career; Foxtons has some of the best people, technology and data in the industry, and it is the most recognised brand in the sector. I am looking forward to working with the talented Foxtons team to realise the potential of the business and drive significant shareholder value."

Nic Budden said: 

"It has been a real privilege to lead the company as CEO for the last 8 years. It's a brilliant company with huge potential and a great team whom it has been a pleasure to work with."

Source: Investis.com