All change at Foxtons as CEO Budden is replaced by Guy Gittins

Budden is stepping down with immediate effect and firm is being run by Peter Rollings until Gittins' notice period at Chestertons ends.

The reason for Guy Gittins departure from estate agency Chestertons is now apparent after Foxtons announced that the 42-year-old has been appointed as its new Group CEO.

He is to start the job on 5th September when his notice at Chestertons expires, where he was its Chief Executive and is returning to his former ‘alma mater’ where he started his career.

Gittins is to replace Nic Budden, who is stepping down after an eight-year tenure at the top following reports that investors were beginning to become restless over progress at the estate agency.

Budden has steered Foxtons through some of its rockiest times including branch closures, plummeting revenues and profits and several bouts of poor PR.

But the agency has stabilised in recent months and been on the acquisition trail including, last week, the purchase of two smaller rivals.


Gittins has significant sector and leadership experience. Since his 2018 appointment as boss of Chestertons, he has grown EBITDA, transformed the business into a technology led, performance focused one, won market share; increased sales in each year; and significantly grown the lettings business both via acquisition and organically. These are all attributes Foxtons would sorely like to see transferred to its business.

Chestertons was recently rumoured to be up for sale by its Libyan owner, although this has yet to come to fruition.

Gittins started his career at Foxtons, leaving in 2007 to become Sales and Marketing Director for hospitality entrepreneur Peter de Savary.


In May 2010 he joined Savills, before moving to Chestertons in 2012, as head of their flagship Chelsea office.

Peter Rollings (pictured), 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.

Nigel Rich, Chairman of Foxtons, says: “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.”

nick budden foxtonsNic 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.”



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