Domain Group has announced the resignation of CEO Antony Catalano, who joined the business in 2013.
The company was listed on the ASX as a separate entity from Fairfax Media in November last year. Fairfax continues to hold a 60% stake in Domain.
Domain chairman Nick Falloon will act as executive chairman until a replacement for Catalano is found. A search for the next Domain CEO is currently underway.
Catalano said in a statement this morning:
“When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job. It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment… As it stands I have been away from home for the bulk of each week and it’s not fair on the family.
“I understand and regret that the timing of this decision is unusually short from Domain’s listing. But having been in the role for four years, I resign knowing that Domain has a great management team in place and I have every confidence in them and the business continuing on its current stunning trajectory. Having worked with Fairfax Media and Domain for more than 26 years, and in my current role with Domain for over four years, I am proud of what has been achieved, most importantly seeing Domain grow into the formidable business that it is today, capable of being a stand-alone listed entity.
“I am grateful for the opportunities it has provided me and I wish the Fairfax Group of companies and my colleagues and friends great success in the future.”