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Foxtons Group PLC - London-based estate agency - Hires Guy Gittins, chief executive of cross-town rival Chestertons, as its new chief executive, effective on September 5. Gittins will replace Nic Budden who has stepped down, having been CEO since 2014. It is the latest in a series changes at the top of Foxtons. Budden had taken over chief operating officer duties back in April after Patrick Franco resigned with immediate effect. Ian Barlow stepped down as chair at the end of 2021, after a major shareholder had called for ‘radical’ changes, replaced by Nigel Rich.
Gittins started his early career at Foxtons, leaving in 2007 for Peter de Savary. In May 2010 he joined Savills, before moving to London and international residential property specialist Chestertons in 2012, as head of its flagship Chelsea office.
Gittins says: ‘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.’
Current stock price: 38.36 pence, up 6.3%
12-month change: down 37%
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