Sky News on Sunday reported that Foxtons Group in London has chosen to appoint Guy Gittins, a rival Chestertons’ CEO.

Gittins will take over from Nic Budden in the face of rising pressure from activist shareholders to sell the company, the newspaper reported https://news.sky.com/story/foxtons-gazumps-london-rival-chestertons-with-raid-on-ceo-gittins-12623917.

Converium Capital, a Montreal-based fund for investment, wrote a request to the board in March 2022 to initiate a formal sale.

Chestertons’ appointment marks the second major move by the top-level company management in this year’s calendar after Richard Harris’s resignation in April.

Gittins announced his last working day at Chestertons on Saturday in a LinkedIn post https://www.linkedin.com/posts/guygittins_teamchestertons-activity-6936663918152986624-PTvj?utm_source=linkedin_share&utm_medium=member_desktop_web. Gittins had served the company for approximately ten years, four of which were as its CEO.

Foxtons or Chestertons have not yet responded to Reuters’s requests for comment beyond business hours.