Richard Simonelli returns to CoStar after five years

CoStar Group continues to strengthen its executive team as the “portal wars” heat up. On Thursday, the company announced the return of former vice president of investor and public relations Richard Simonelli after a five-year absence from the company, along with the promotion of Cyndi Eakin to chief accounting officer.

Simonelli returns as CoStar’s new head of investor relations. Since leaving CoStar in 2019 after eight years with the company, Simonelli has worked as an independent consultant and most recently as Senior Vice President of Industry Relations at Compass.

In addition to his previous role at CoStar, Simonelli has held leadership positions at the New York Stock Exchange, Quote Dewe Rogerson, MS&L, MWW group And Abbey Road Partners (now known as Simonelli Capital).

“I am pleased to welcome Rich back to CoStar Group and announce the promotion of Cyndi,” Andy Florance, the CEO and founder of CoStar Group, said in a statement. “As we enter a new era of growth for the company, I believe Rich’s experience with CoStar Group’s ambitious plans and track record, combined with his experience in the residential real estate sector, will be more relevant than ever to CoStar Group. His ability to engage with our shareholders takes on renewed importance.”

Eakin, who joined CoStar Group in 2016, has served as the company’s vice president of controller and head of investor relations during her tenure. In her new role as Chief Accounting Officer, she will be responsible for corporate accounting, revenue reporting, tax compliance, and policy and financial reporting. She has more than 35 years of experience in executive finance roles and has previously worked at KPMG USA, MCI Corp., Teleglobe, Bearing point, Iridium, Social life, Chief And Evolving health.

“Cyndi’s prior experience as our controller and most recent Investor Relations experience make her ideally suited to oversee our accounting function,” said Florance. “I look forward to seeing both Cyndi and Rich flourish in these new roles.”

In June, CoStar announced the hiring of former employees Freddie Mac director Christian Lown as the company’s Chief Financial Officer. In their new roles, Simonelli and Eakin will report to Lown.

“He brings an unparalleled understanding of mergers and acquisitions, capital markets and corporate finance and, from his time at Freddie Mac, an intricate understanding of the homebuying market at a time when our Homes.com platform is experiencing exponential growth,” Florance said at the time of Lown’s appointment.

Earlier this month, Realtor.comthe parent company, Movementhas filed suit against CoStar Group and former Realtor.com employee James Kaminsky, alleging that the current Homes.com employee stole Realtor.com’s trade secrets to help fuel Homes.com’s rapid growth.

In an interview with HousingWireFlorance called the lawsuit a “PR stunt” and argued that there was no validity in the claims Move specifically made against CoStar Group.