Richard Simonelli Returns To CoStar As Firm Strengthens C-Suite
CoStar Group revealed its newest govt hires of the summer season, with Simonelli returning after six years as Compass’ business relations SVP. Cyndi Eakin was promoted to chief accounting officer.
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A month after hiring former Freddie Mac govt Christian Lown as its new finance chief, CoStar has made one other transfer to strengthen its govt crew amid an intensifying portal battle.
The Virginia-based group announced late Thursday that Richard Simonelli is returning to CoStar Group as the brand new head of investor relations after six years as an impartial marketing consultant and SVP of Business Relations at Compass. In the meantime, CoStar Group Controller Cindy Eakin was promoted to chief accounting officer. Simonelli and Eakin will report back to Lown.
Richard Simonelli | Credit score: LinkedIn
Simonelli is a 35-year business veteran who’s held govt positions on the New York Inventory Change, Citigate Dewe Rogerson, MS&L, MWW Group, Abbey Highway Companions (now generally known as Simonelli Capital), and Compass. Simonelli’s first tenure with CoStar Group was from 2011 to 2019, the place he served as the corporate’s vp of investor and public relations.
Eakin has an equally spectacular resume at Simonelli, with 35 years of govt finance roles at KMPG US, MCI Company, Teleglobe, BearingPoint, Iridium, LivingSocial, Chelfie, and Evolent Well being. Eakin joined CoStar Group in 2016 and has served because the vp controller and the top of investor relations. In her newest function, Eakin will likely be chargeable for company accounting, income reporting, tax compliance, technical accounting, and coverage and monetary reporting.
“I’m delighted to welcome Wealthy again to CoStar Group and announce Cyndi’s promotion,” CoStar Group Founder and Chief Government Officer Andy Florance mentioned in a press release. “As we enter one other period of development for the corporate, I consider Wealthy’s expertise with CoStar Group’s formidable plans and observe document of success, mixed together with his residential actual property business expertise, will likely be extra related than ever to CoStar Group. His skill to liaise with our shareholders takes on a renewed significance.”
Cyndi Eakin | Credit score: LinkedIn
“And Cyndi’s prior expertise as our Controller and most up-to-date expertise in Investor Relations make her uniquely suited to supervise our accounting operate,” he added. “I look ahead to seeing each Cyndi and Wealthy thrive in these new roles.”
Simonelli and Eakin are the second and third govt hires CoStar Group has made prior to now month. In June, the corporate introduced former Freddie Mac Government Vice President and Chief Monetary Officer Christian Lown could be the company’s new chief financial officer.
In his new function, Lown is dealing with CoStar Group’s monetary controls, accounting, ESG technique, investor relations, monetary planning and reporting, tax, capital oversight, and compliance, alongside the duty of increasing the corporate’s monetary operations crew by way of sturdy recruitment and retention efforts.
Florance mentioned Lown’s appointment is vital to stoking development at Houses.com, which is in a broiling battle with Realtor.com over which platform can rightfully declare the title because the second-most trafficked residential portal within the U.S.
Over the previous week, Realtor.com filed a theft of trade secrets lawsuit against CoStar Group within the U.S. District Courtroom in California, and an advertising claims challenge with Higher Enterprise Bureau Nationwide Packages’ Nationwide Promoting Division over the corporate’s use of Houses.com Community figures in adverts. The corporate has vehemently denied any wrongdoing in each situations.
“[Christian] brings an unparalleled understanding of M&A, capital markets and company finance and, by way of his time at Freddie Mac, an intricate information of the homebuying market at a time when our Houses.com platform is experiencing exponential development,” Florance mentioned in a earlier Inman article. “I look ahead to working with him to make CoStar Group even stronger within the years forward.”
