CoStar Group announced significant changes to its board by appointing three new independent directors: John Berisford, Rachel Glaser, and Christine McCarthy, who will succeed retiring members. Louise Sams has been named the independent board chair, reinforcing the board's independent structure. Additionally, CoStar established a capital allocation committee tasked with reviewing financial strategies and investment priorities, particularly for Homes.com, which will receive an increased focus and dedicated sales efforts starting in 2025. Support agreements with D.E. Shaw Group and Third Point were also disclosed, related to the Board's director elections.
On Monday, the Andy Florance-led firm announced its appointment of three new independent directors: John Berisford, Rachel Glaser, and Christine McCarthy. These directors replace Michael Klein, Christopher Nassetta, and Laura Kaplan, who all retired from the Board.
CoStar's board will also oversee the capital allocation committee to focus on its capital structure, fund allocation, and financial targets, particularly with regards to Homes.com.
#costar-group #board-of-directors #corporate-governance #capital-allocation #real-estate-investments
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