The chief executive of Nine’s digital real estate business will step down after six years, sparking more unrest and another succession hunt.
The chief executive of Nine’s digital real estate business Domain will step down after six years, sparking another succession hunt at the media company.Domain, Nine’s most valuable asset, is down 10 per cent on the ASX across 2024, with its performance routinely cast against News Corp controlled-REA Group, which is up 24 per cent across the same period.
Domain chair Nick Falloon said he was grateful for Pellegrino’s contribution to the business, worth $1.95 billion at close of business on Tuesday.“He leaves Domain in a strong financial, operational and cultural position, underpinned by robust digital infrastructure that enables us to be highly competitive across the entire property ecosystem,” Falloon said.
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