Zillow has a new CFO in the form of Jeremy Hofmann, who has been promoted with immediate effect.
Hofmann has served Zillow for six years as a Senior Vice President of Corporate Development and Strategy and now succeeds Allen Parker. A company release confirmed that Parker will move into an advisory role in Q1 2024 after five years as CFO.
Hofmann's achievements include Zillow's Housing Super App strategy that launched in spring 2022—a move that CEO Richard Barton says has been instrumental in Zillow's recovery since its infamous iBuying experiment. Barton said:
"Jeremy has been an integral part of Zillow's growth since he joined the company.
He's at the center of our strategy to capture a greater share of customer transactions in real estate while making it easier for more and more people to get home. Jeremy is key in driving progress on our growth strategy with operational and financial discipline, and I'm looking forward to him having an even bigger hand in shaping the future of Zillow as our CFO."
Hofmann's success hasn't necessarily been luck—his CV boasts ten years in financial services at the likes of Goldman Sachs and Credit Suisse.
His first job will be to boost Zillow's revenues back to 2022 levels; Zillow's Q1 results revealed that the portal's revenues dipped 13% YoY amid significant headwinds in the US market.
Meanwhile, CEO Barton will likely find himself in a deposition in the near future, after US District Judge Thomas Zilly gave Real Estate Exchange Inc (REX) permission to question the Zillow boss in an ongoing lawsuit against the portal.