CoStar Group has announced its latest executive hiring this summer, with Simonelli returning after six years as senior vice president of industry relations at Compass. Cyndi Eakin is promoted to chief accounting officer.
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A month after hiring former Freddie Mac executive Christian Lown as its new financial director, CoStar has made another move to bolster its management team amid the growing battle over portals.
Richard Simonelli will return to CoStar Group as its new head of investor relations, the Virginia-based group announced late Thursday, after serving as an independent consultant and industry executive at Compass. Senior Vice President, Relations, for six years. At the same time, CoStar Group Finance Director Cindy Eakin was promoted to Chief Accountant. Simonelli and Eakin will report to Long.
Richard Simonelli | Image source: LinkedIn
Simonelli is a 35-year industry veteran who has held senior executive positions at the New York Stock Exchange, Citigate Dewe Rogerson, MS&L, MWW Group, Abbey Road Partners (now Simonelli Capital) and Compass. Simonelli first served at CoStar Group from 2011 to 2019, serving as the company’s vice president of investor and public relations.
Eakin’s resume at Simonelli is equally impressive, with 35 years in executive finance roles at KMPG US, MCI Corporation, Teleglobe, BearingPoint, Iridium, LivingSocial, Chelfie and Evolent Health. Eakin joined CoStar Group in 2016 and served as Vice President of Finance and Head of Investor Relations. In his most recent role, Eakin will be responsible for corporate accounting, revenue reporting, tax compliance, technical accounting, and policy and financial reporting.
“I am pleased to welcome Rich back to CoStar Group and to announce Cyndi’s promotion,” CoStar Group founder and CEO Andy Florance said in a statement. In an era of growth, I believe Rich’s experience and track record of success in CoStar Group’s ambitious plans, coupled with his experience in the residential real estate industry, will be more relevant to CoStar Group than ever before and his ability to liaise with shareholders becomes more relevant. more important.
Cyndi Eakin Picture source: LinkedIn
“Cyndi’s previous experience as our financial controller and recent experience in investor relations make her well-suited to oversee our accounting function,” he added. “I look forward to watching Cyndi and Rich thrive in these new roles.”
Simonelli and Eakin are the second and third senior executives CoStar Group has hired in the past month. In June, the company announced that former Freddie Mac executive vice president and chief financial officer Christian Lown would serve as the company’s new chief financial officer.
In his new role, Lown is responsible for handling CoStar Group’s financial controls, accounting, ESG strategy, investor relations, financial planning and reporting, tax, capital oversight and compliance, as well as through strong recruitment and retention efforts. Expand the company’s financial operations team.
Florance said Lown’s appointment will be critical in driving growth for Homes.com, which is locked in a fierce battle with Realtor.com over which platform can rightfully claim the title of the second largest home portal in the United States.
Over the past week, Realtor.com filed a trade secret theft lawsuit against CoStar Group in U.S. District Court in California and filed an advertising claim with the National Advertising Division of the Better Business Bureau National Program challenging the company’s use of the Homes.com network to portray characters in the ads. . The company strongly denies any wrongdoing in either case.
“[Christian] “He has an unparalleled understanding of M&A, capital markets and corporate finance, and during his tenure at Freddie Mac, he was instrumental in helping our Homes.com platform experience exponential growth,” Florance said in a previous article by Inman. “I look forward to working with him to make CoStar Group even stronger in the coming years. “
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