REA Group announces new organisational structure

REA Group has announced changes to its organisational structure to further progress its strategy to build next generation marketplaces. 

REA Group Chief Executive Officer Owen Wilson said the changes, effective from 1 July 2022, are an important step in simplifying and aligning structure to the Group’s growth agenda.  

“Our consumer, customer and data marketplaces are becoming more interdependent than ever, underpinned by Australia’s largest and most engaged audience of property seekers,” Mr Wilson said.

“To unlock the full potential of the Group our new structure enables us to fully leverage our scale and the increasing connectivity of our growing marketplaces.”

Product and audience

Under the new structure, Melina Cruickshank will lead a new combined Product and Audience Group as Chief Product and Audience Officer with accountability for Consumer Product, Customer Product, Audience and Marketing and PropTrack. 

“REA has achieved unrivalled scale with realestate.com.au, the clear #1 address for property, and the sixth largest online brand in Australia,” Mr Wilson said.

“This large and engaged audience is critical in driving our business, and the connection of the Product, Marketing and Data portfolios will put us in a strong position to deliver our next phase of growth. 

“Melina has made a tremendous impact in her three years at REA, with extensive experience leading Product, Marketing, Content and Tech Teams, and has a clear vision for mobilising the newly formed Product and Audience Group.”

Financial Services

Anthony Waldron has been appointed Chief Executive Officer, Financial Services and Mortgage Choice.

He brings more than 25 years of experience in financial services strategy, mortgage broking and business development, most recently as Interim CEO of Mortgage Choice.

He will also join REA’s Executive Leadership Team. 

Mr Waldron will succeed Janelle Hopkins who has led the growth of the Financial Services businesses over the past three years, including the successful acquisition of Mortgage Choice and its integration with Smartline, in addition to her ongoing responsibilities as Chief Financial Officer of the Group.

“Financial Services is a core pillar of REA’s strategy,” Mr Wilson said.

“Anthony will lead the next phase of growth and innovation within our mortgage broking and digital direct lending businesses.

“He brings significant experience having led NAB’s presence in the mortgage and finance broking market.

“I’d like to thank Janelle for her significant contribution and strong leadership during a critical period of growth in our Financial Services business. She has positioned us to become Australia’s clear #1 retail broking business.”

Mary Lemonis’ remit will formally expand to Chief People and Sustainability Officer, REA Group, to reflect her current leadership of Sustainability.

Ms Lemonis’ leadership has seen the development of world class people and sustainability culture at REA with the business recognised as a Great Place to Work, ranked fourth in Australia, and with the achievement MSCI ESG rating of AA following the implementation of a wide range of ESG initiatives.

Henry Ruiz will continue to lead Strategy and the recently launched property.com.au site as Chief Strategy Officer and CEO REAx – driving property.com.au to become the number one property research site.

As a result of the consolidation of Product and Marketing portfolios, Val Brown, Chief Consumer Product Officer has decided to leave the business after an illustrious career with REA. 

“I would like to thank Val for her outstanding contributions across the business over the past 13 years,” Mr Wilson said.

“Val’s leadership, vision and commitment have had a significant impact on many areas of the business during this time. I wish her the very best for her next chapter.”