Realtor.com CEO Announces Departure
Ryan O’Hara, chief executive officer of Move, Inc., since January 2015, is leaving the company. Move, a subsidiary of News Corp, operates realtor.com. O’Hara is taking on a new chief executive position in another industry.
News Corp is actively involved in digital real estate, and O’Hara has been credited with spearheading its effort. Since the creation of the new News Corp in 2013, Digital Real Estate Services revenues have more than tripled, with the segment generating over $1.1 billion in fiscal year 2018, according to a press release.
In October 2018, Move completed its acquisition of Opcity, a leading real estate technology platform that matches qualified home buyers and sellers with real estate professionals in real time. The acquisition broadens realtor.com’s lead-generation product portfolio to include Opcity’s concierge-based model.
“Ryan has transformed realtor.com, overseeing a period of remarkable growth, with revenues more than doubling during his tenure,” said Robert Thomson, CEO of News Corp. “Ryan and the talented team have helped realtor.com more than triple the number of unique users since our acquisition less than five years ago, reaching an all-time record of more than 73 million in May.”
Tracey Fellows has been named acting CEO of Move, while a search for a new chief executive is underway. Fellows will continue to serve as News Corp’s President of Global Digital Real Estate and lead the development of the fastest growing sector in the company.
“I wish Ryan all the very best with his next challenge and have no doubt that Tracey will be a brilliant leader at realtor.com® while she is at the helm,” said Thomson. “Tracey’s impact on our digital real estate operations has already been profoundly positive as she has brought extra verve and vision to the businesses.”
Before taking on the position of president of Global Digital Real Estate in January, Fellows served as CEO of REA Group, where she oversaw a rapid expansion of the digital real estate business in Australia and Asia, while also leading the company’s investments in India and North America. Ms. Fellows continues to serve as a director on REA Group’s board. REA Group, in which News Corp owns a 61.6% interest, has a 20% stake in Move.