London estate agent Foxtons Group has appointed Guy Gittins as group CEO with effect from 5 September.
Gittins, who started his career at Foxtons, rejoins the firm 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.
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.'
Since his 2018 appointment as chief executive of Chestertons, Gittins has exponentially grown EBITDA, and transformed the business into a technology-led, performance focused business, winning market share, increasing sales, and significantly growing the lettings business.
Gittins left Foxtons 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 Gittins takes up his appointment. Rollings was CEO of Marsh & Parsons from 2005 to 2016.
Foxtons has made a good start to the financial year and current trading remains in line with the board’s expectations.
Said Gittins: '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.'
