The REA Group announced today that long time CFO and General Manager International, Georg Chmiel, has resigned from the REA Group.
Georg joined the REA Group as CFO in 2005 when the REA Group Ltd was realestate.com.au Ltd and had a market cap of just A$120m. During his tenure, realestate.com.au became the REA Group, expanded into Europe, the Middle East and Asia, and dramatically increased financial performance to EBITDA A$78 on revenues of A$194m. Today the market cap of the business is A$1.6b.
More recently, Georg was also responsible for the overseas investments in Luxembourg and Hong Kong, both of which delivered strong performance improvement under his guidance.
Georg has been appointed as the COO of one of Australia's largest franchise groups, L J Hooker.
The last 18 months have seen a raft of Senior Management departures from the REA Group including: