CoStar Group is bolstering its executive team amid increasing competition in the real estate portal industry. The company recently welcomed back Richard Simonelli, former vice president of investor and public relations, after a five-year hiatus, and promoted Cyndi Eakin to chief accounting officer.
Simonelli, now heading CoStar’s investor relations, returns after a stint as an independent consultant and senior vice president of industry relations at Compass following his departure from CoStar in 2019. His extensive experience includes executive positions at the New York Stock Exchange, Citigate Dewe Rogerson, MS&L, MWW Group, and Abbey Road Partners (now Simonelli Capital).
Andy Florance, CEO and founder of CoStar Group, expressed excitement about Simonelli’s return and Eakin’s promotion. Florance highlighted Simonelli’s strategic value and industry expertise, emphasizing the importance of strong shareholder relations.
Eakin, who has been with CoStar since 2016, brings over 35 years of finance experience to her new role as chief accounting officer. She will oversee corporate accounting, revenue reporting, tax compliance, and financial reporting, building on her previous roles within the company and past positions at KPMG US, MCI Corp., Teleglobe, and others.
Florance praised Eakin’s background in accounting and investor relations, noting her aptitude for the new responsibilities. Both Simonelli and Eakin will report to recently appointed CFO Christian Lown, who brings expertise in M&A and corporate finance from his time at Freddie Mac.
CoStar’s growth has not been without challenges, as demonstrated by a recent lawsuit filed by Move, parent company of Realtor.com, against CoStar and former Realtor.com employee James Kaminsky. Florance dismissed the claims as a “PR stunt,” asserting the baselessness of Move’s accusations against CoStar Group.
In the midst of these developments, CoStar remains focused on advancing its platforms and services to meet the evolving needs of the real estate market.
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