Costar Shakes Up Board, focuses on profitability of Homes.com
On Monday the company led by Andy Florance announced The appointment of three new independent directors: John Berisford, Rachel Glaser and Christine McCarthy.
These three new directors replace Michael Klein, Christopher Nassetta and Laura Kaplan, who all retired. Moreover, Louise Sams, who has served in the Costar Group Board since 2019, was appointed independent chairman of the board. The Costar board comprises eight directors, seven of whom are independent.
The company also announced that the board had established a capital allocation committee, whose task will be to revise the capital structure of Costar, as well as how the funds and its financial goals assign, including international expansion and investments in its most important brands, including Homes.com, Lusnet And Apartment.
Moreover, the submission noted that this committee will keep specific supervision Homes.com’s timeline for investments and profitability. This committee includes Berisford, McCarthy, Robert Musslewhite and Florance, who will serve as chairman of the committee.
Costar has invested heavily in Homes.com in the past year. The company launched its income strategy in February 2024, with a priority of memberships of brokers. The vertical will receive its own special sales team in 2025.
The submission also noted that Costar has concluded support agreements The Shaw Group And Third pointOf which it says, is with regard to “Affairs with regard to the election of directors at the company’s board of directors.”
