Foxtons CEO Michael Brown steps down for personal reasons

A Foxtons estate agent sign is seen outside a branch in north London September 3, 2013. REUTERS/Suzanne Plunkett

LONDON (Reuters) - London estate agency Foxtons Group said on Tuesday Chief Executive Michael Brown had decided to step down after 12 years for personal reasons.

The group, which returned to the stock market in September last year, said Chief Operating Officer Nic Budden would succeed Brown from July 1.

The estate agent said in April that Brown was taking a period of compassionate leave.

(Reporting by Paul Sandle; editing by Kate Holton)