Tracey Fellows is stepping down from her role as CEO of REA Group in January 2019 to take up the position of president of global digital real estate for News Corp, based in New York.
In her new role Ms Fellows will be responsible for driving strategy and growth across all of News Corp’s digital real estate interests.
CEO of News Corp, Robert Thomson said her taking on the new role is an important strategic initiative for News Corp.
“Tracey has driven the rapid expansion of the digital real estate business in Australia and Asia and we believe her leadership internationally will ensure that all of our digital property companies realise their extraordinary potential,” he said in an ASX announcement today.
“She is an inspiring leader who is able to bring out the best in team sand in individuals.”
Mr Thomson added that audiences, revenue and profits at REA Group have all expanded “significantly” during Ms Fellows’ tenue as CEO.
“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.
“We are keen to capitalise on our sterling success in digital real estate by driving even faster growth in our existing businesses. Tracey is the perfect person to deliver on both of these imperatives from our company and our investors.”
News Corp chair, Hamish McLennan, said REA Group has seen “exceptional” transformation and growth since Ms Fellows took the helm in 2014.
“She has the extraordinary ability to harness the power of people, technology and data and has built strong cultural and operational foundations that will drive our growth into the future.
“The board and I are enormously grateful to Tracey for all she has done and wish her every success in her exciting new role and look forward to continuing to work with her.”
Ms Fellows said she feels very fortunate.
“It’s one of the exciting things about the opportunity; it allows me to take on a new challenge while continuing to work alongside these incredible people – all in an industry I am so passionate about. There could not be a more exciting time for a role like this.
“It has been an absolute privilege working with the team and the board at REA.”
Ms Fellows tenure as CEO of REA Group will end in January 2019, but she will remain on its board on behalf of News Corp.
She will support the appointment of her replacement and the transition of leadership.