Realtor.com CEO reportedly in the running for another role
An Australian financial publication reported last week that Damian Eales is being considered for the CEO job at REA Group, which operates realestate.com.au.
Could Realtor.com's CEO be headed back to Australia?
Damian Eales, who took the helm at Move Inc. and Realtor.com in 2023 following the departure of former CEO David Doctorow, is reportedly a top contender to lead REA Group, which operates realestate.com.au, Australia's biggest home listings portal. Current REA Group CEO Owen Wilson recently announced he was retiring later this year.
The Australian Financial Review reported last week that Eales, who moved from Sydney to New York in 2020, is one of two frontrunners to take over as CEO at REA Group.
Familiar territory: Eales "worked closely with" REA Group in his previous role as executive vice president at News Corp — which owns Move and holds a majority stake in REA Group — according to a 2023 company press release.
That announcement also mentioned that Eales' "partnership with REA Group helped realestate.com.au maintain and grow its standing as the #1 digital real estate site in Australia."
Who else is in the running? The Australian Financial Review named Melina Cruickshank, REA's chief product and audience officer, as the other top candidate for the CEO job, but noted that an external candidate may also be considered.
What Eales had to say: When asked to comment on the reporting, Eales said he is "thoroughly engaged by the opportunity that is Realtor.com and entirely focused on the new capabilities we are delivering to the American market."
How CoStar fits in: During CoStar's July 22 earnings call, CEO Andy Florance mentioned "media reports" about Eales possibly leaving his post at Realtor.com and returning to Australia to take on the CEO role at REA Group.
"If that were to occur, it would mean two disruptive leadership changes in our favor," Florance told investors. CoStar operates Homes.com, a rival of Realtor.com, and the company is in the final stages of acquiring Domain Holdings, a property portal in Australia that competes with REA.
A contentious leadership style: Since joining Realtor.com, Eales has repeatedly butted heads with Florance. The two CEOs have battled over portal traffic numbers, and Move sued CoStar over alleged theft of trade secrets in 2024, a case that was dismissed in April.
According to the Australian Financial Review, "there have been mixed reviews of Eales' success at Move." The publication cited News Corp financial filings that show Move's revenue has fallen over the past two years.