Ms Cruickshank had been with REA Group for six years and led the company’s 800-strong consumer product and advertising division, overseeing an annual product development budget of $200 million.
According to the AFR, outgoing CEO Owen Wilson shared that Ms Cruickshank plans to take time away from professional life.
“Melina has decided that now is the time to explore new opportunities outside REA Group and that she needs to take some time out from professional life in the coming months to spend some time with her family,” Wilson wrote.
The leadership change comes at a critical time for REA Group, which faces increasing competition in the property portal market.
The company, with a market capitalisation exceeding $32 billion, is now confronting a formidable new competitor after US real estate conglomerate CoStar Group recently took control of Domain, Australia’s second-largest property portal.
In her parting statement shared by Mr Wilson, Ms Cruickshank expressed gratitude to her colleagues.
“My thanks to Owen for his vision, leadership, and humour,” she said.
“And to the incredible people of Product & Audience it’s been a complete privilege.”
The departure is a significant loss for REA Group as it prepares to face increased competition from CoStar which recently acquired Domain.
CoStar CEO Andy Florance recently visited Australia with 18 senior executives to develop strategies for Domain, which represents CoStar’s largest acquisition in its nearly 40-year history.
