Managing director and CEO and REA Group Limited, Greg Ellis (pictured), will depart the business on March 14, as Peter Tonagh is appointed interim CEO.
Ellis announced his resignation in December last year.
Tonagh, non-executive director, will be interim CEO until the global recruitment process is completed.
See full release below.
REA Group announces appointment of Interim CEO
REA Group Limited (ASX:REA) today announced that Managing Director and CEO, Mr Greg Ellis will depart the business on 14 March 2014. Mr Ellis announced his notice of resignation on 17 December 2013.
The Board has appointed existing REA Group non-executive Director, Mr Peter Tonagh, as Interim CEO until the completion of a global recruitment search for a successor to Mr Ellis.
Mr Tonagh is the Chief Operating Officer for News Corp Australia and was appointed to the REA Group Board in October 2013. This followed a successful nine year career at FOXTEL Management Pty Limited, where he most recently held the role of Chief Operating Officer and Chief Financial Officer.
REA Group Chairman Hamish McLennan said that Mr Ellis had successfully led the Company through a period of significant growth and thanked him for his outstanding contribution.
“Greg has demonstrated his commitment to REA Group’s success over the past five years and we thank him for his continued support through this transition phase. We wish him success in his new role.
“The Board has chosen to make an Interim CEO appointment to ensure that we can continue to conduct a thorough global recruitment search for a permanent CEO.
“The recruitment process is well underway. Our priority is to appoint the right person to lead the business through the next phase of the Company and we are ensuring that we have the opportunity to follow through the process in full.
“Peter’s role will be to work closely with the Board and the senior leadership team to continue the momentum of the Company.
“We’re pleased that Peter will be taking up this interim appointment. His position on the Board and his strong managerial experience means that he is well-suited to take on this role,” said Mr McLennan.