The chief executive of REA Group is leaving the ASX-listed property classifieds firm to head News Corp’s global real estate unit in New York.
Tracey Fellows, who has led the realestate.com.au owner since August 2014, will end her tenure in January and start immediately as News Corp’s president of global digital real estate.
Her successor at REA Group, which is 61.6 per cent owned by News Corp, has yet to be announced.
News Corp chief executive Robert Thomson said Ms Fellows’ rapid expansion of the digital real estate business in Australia and Asia made her the ideal candidate to lead a unit that includes realtor.com in the US and companies in India, as well as the controlling interest in REA Group.
‘Audiences, revenue and profits at REA Group have all expanded significantly during Tracey’s tenure as CEO,’ Mr Thomson said on Thursday.
‘She has been an irrepressible innovator and has led the company into intelligent adjacencies, such as financial services and property data, which have broadened the revenue base and built a platform for future growth.’
News Corp’s digital real estate earnings have doubled since 2013, making it the largest contributor to the company’s profitability in the last financial year.