Foxtons nabs Chestertons boss for CEO job as estate agent eyes larger London presence
Foxtons has appointed Guy Gittins to head the London estate agent from this autumn.
Gittins, who currently holds the title of chief executive at rival estate agent Chestertons, will take on the job of Group CEO at Foxtons on 5 September.
He will be replacing Nic Budden, who has been CEO of the London-listed company since 2014.
Peter Rollings, currently a non-executive director and former managing director of Foxtons, is to act as interim CEO with immediate effect.
It has been a real privilege to lead the company as CEO for the last eight years. It’s a brilliant company with huge potential and a great team whom it has been a pleasure to work with,” outgoing CEO Budden said.
The leadership news comes just days after Foxtons coughed up £10.5m for two takeovers, in a bid to snap up an even larger share of London’s property market.
The London-listed group has bought IMM Properties, which trades under the name Gordon & Co in South London, as well as Stones Residential in North London.
The deals are expected to improve the “resilience” of revenues at Foxtons, which is already London’s largest lettings agent, CityA.M. reported earlier this month.
Foxtons’ share price was boosted some 6.5 per cent on Monday morning, in early trading.
More to follow…