David Doctorow To Depart Move, Inc. Damian Eales Named Successor
New York, NY (June 1, 2023) - After leading Move, Inc., operator of Realtor.com and a portfolio of other real estate brands, for more than three years, gaining market share and breaking several revenue and audience records, David Doctorow announced today his decision to depart as Chief Executive Officer of the business.
News Corp has named Damian Eales to succeed him in the position, effective June 12, with Mr. Doctorow continuing to assist him in the transition in the coming weeks.
Under Mr. Doctorow's leadership, Move achieved record revenues; had record audiences and consumer satisfaction at Realtor.com ; increased market share; strengthened industry relationships and employee engagement; and further diversified revenue streams into the rentals, new homes and seller markets. Between fiscal years 2020 and 2022, Move's revenues grew by 50 percent, and average monthly unique users reached a high of more than 100 million in 2022. Mr. Doctorow helped complete the integration of OpCity into the Realtor.com business and oversaw the acquisitions of Avail and UpNest.
Over the past several years, Realtor.com has continued to innovate and expand its product offerings for consumers, real estate agents and brokers, new construction builders, lenders and property managers. Among many other changes, Mr. Doctorow also oversaw the launch of a new home search algorithm, incorporating AI throughout many products; a new mobile app; leveraging the Opcity platform to create new agent/broker products; and the Seller's Marketplace and listing agent businesses, with Realtor.com dramatically expanding content coverage in the new construction and rentals verticals.
I am proud of the many successes we achieved at Realtor.com since February 2020, and greatly value having had the chance to work with the best team in the digital real estate industry. I believe this is the right time for me to embark on a new chapter in my career, and I look forward to working with Damian as he begins his new role, said Mr. Doctorow. Today the real estate market is experiencing new challenges, but I am confident the people of Realtor.com have what it takes to continue growing and empowering the agents, brokers and other customers to grow, while empowering consumers with confidence as they turn to us to make their dreams of a new home come true.
We are all very grateful to David for the many ways he helped grow Realtor.com , including through the acquisition and integration of key assets, the launch of innovative products, the expansion of offerings in rentals and new construction, and the development of sell-side products, said Robert Thomson, Chief Executive of News Corp. It was not long after David started that the world was thrust into the pandemic, but he and everyone at Realtor.com responded professionally, and the business managed to expand revenues and audience, gaining share despite the obstacles of that era.
Mr. Eales has been serving as Executive Vice President and Global Head of Transformation for News Corp since July 2020. Prior to that, he held senior positions at News Corp Australia over seven years, including Chief Marketing Officer and Chief Operating Officer of the Australian publishing business, where he led commercial, consumer, digital product and publishing divisions. Mr. Eales previously served in senior leadership posts in several major Australian businesses.
During his time at News Corp Australia, Mr. Eales helped lead digital transformation initiatives, which profoundly improved the operations of its portfolio of mastheads across Australia and led to the expansion of its subscription business from approximately 100,000 subscribers in 2013 to what is now more than 1 million. His oversight of news.com.au helped secure its position as the leading news website in Australia, according to Ipsos, and his partnership with REA Group helped realestate.com.au maintain and grow its standing as the #1 digital real estate site in Australia.
In his current post, Mr. Eales was part of a broader effort at News Corp that yielded significant savings, while increasing collaboration among business units.
REA, which owns 20 percent of Move, Inc., will be working closely with Mr. Eales in his new role, and ramping up resource sharing with Realtor.com , including talent. More details about this collaboration will be announced in the coming weeks.
Damian is a strong leader with a long track record of accomplishment, and I am confident that his acumen and acuity will serve him well in leading Realtor.com into a new era of growth, said Mr. Thomson. Damian's years of work with REA, coupled with his understanding of digital transformation, provide a platform to pursue the long-term opportunities we know exist in the $200 billion U.S. real estate market.
For many years, Damian worked closely with REA as our partnership with News Corp Australia flourished to our mutual benefit. He has a keen appreciation for the value of the real estate market and how it intersects with consumers, publishers and digital technology, said Owen Wilson, CEO of REA Group. We wish David well in the next phase of his career, and like David, Damian will be a strong ally for us and a very effective leader of Realtor.com . In particular, we look forward to collaborating even more closely with Realtor.com through the sharing of resources, including key talent, in the months ahead.
It is an honor to be offered the opportunity to lead Move, Inc. and Realtor.com . Helping customers find a home is uniquely purposeful, and I look forward to working with the talented Move team as we seek to expand reach and enhance value to agents, brokers and consumers in the vital digital real estate market, said Mr. Eales. Having worked closely with REA, and throug
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David Doctorow To Depart Move, Inc. Damian Eales Named Successor
