Foxtons Group announces Guy Gittins as next CEO

– UK, London –  Foxtons Group plc (LON: FOXT), London’s leading estate agent, today announced the appointment of Guy Gittins as Group CEO with effect from 5 September 2022, to succeed Nic Budden, who has stepped down from the CEO role he has held since 2014.

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.

“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.” said Board Chairman, Nigel Rich.

About Guy Gittins

Guy Gittins joins Foxtons from Chestertons, the London and international residential property specialist, where he is currently Chief Executive.

Guy Gittins 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.

Guy Gittins, CEO designate 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 recognized brand in the sector. I am looking forward to working with the talented Foxtons team to realize the potential of the business and drive significant shareholder value.”

In 2012 Guy joined Chestertons, the London and international residential property specialist, as Director of the company’s flagship office in Chelsea. There he strengthened the sales department and significantly increased branch revenue in his first year, subsequently being promoted to Sales Director where he was tasked with improving revenue performance across the Company.

In 2016, Guy was appointed Head of Residential Sales, before becoming Chief Executive in 2018. In the last four years, he has exponentially grown Chestertons’ EBITDA, accelerated sales and lettings revenues, and profits. Chestertons today has over 30 branches across London, with a focus on residential sales and lettings.

Guy previously held senior commercial roles at Peter de Savary and Savills and holds a first-class honors degree in Technology Management from Oxford Brookes University.

About Foxtons

Foxtons is London’s leading estate agent with the most recognized brand. Founded in 1981, Foxtons operates from a network of interconnected branches, offering a range of residential-related services across three revenue streams: lettings, sales, and financial services.

Foxtons seeks to deliver significant shareholder value by delivering against core strategic objectives:

• Driving organic revenue growth through market share growth, developing new revenue channels, and enhancing cross-sell capabilities;
• Identifying, acquiring, and integrating high-quality lettings portfolios; and
• Achieving profit growth by increasing staff productivity and continuing to streamline infrastructure and management.

For more information: https://www.foxtons.co.uk