The chief financial officer of Foxtons is stepping down today. However, Gerard Nieslony will remain in a new role as finance director.

The move was flagged up six months ago in May, after Foxtons appointed Mark Berry as its new chief financial officer. He joins from recruitment company Hays.

Chairman Garry Watts said of Nieslony: “His commitment throughout has been unstinting and he was highly instrumental in preparing the group for its flotation in 2013.

“On behalf of the board I would like to thank Gerard for his contribution to Foxtons and personally to record my pleasure that he will be remaining with us in his new role.”

Nieslony joined Foxtons in August 1999 as group financial controller and was appointed chief financial officer in 2013.

Foxtons reported a decline in group revenue from £71.1m to £68.8m for the first six months of this year, while pre-tax profits tumbled to £10.7m from £18.1m.

In October, in an unscheduled announcement to the stock market, it reported that in the three months to the end of September, revenue from sales dropped 34%.

Foxtons’ current market capitalisation of £305.7m compares with that of Purplebricks of £293.69m – however, Foxtons remains profitable.

Foxtons shares closed last week at 111p. Its 52-week low was on October 18 at 93.50p, compared with its 52-week high of 201.50 on January 13.

Foxtons floated on the stock market in 2013, with shares at 230p.