Domain has appointed former REA Group chief executive Greg Ellis as interim CEO for up to a year while it searches for a permanent replacement for Jason Pellegrino.
The announcement coincided with the company’s first-half FY25 results, which showed a 14% increase in EBITDA to $77.8 million and a 28% rise in net profit to $33.1 million.
Mr Ellis, who led REA from 2008 to 2014 and has been on Domain’s board since 2017, steps in at a time of significant change.
Mr Ellis’s appointment, starting Monday, comes as Mr Pellegrino prepares to step down on February 28, following six and a half years leading Domain.
Speaking during his final results briefing, Mr Pellegrino said Domain had successfully evolved “from an online classifieds business to a property marketplace that can deliver on our ambitious aspirations for the future.”
Mr Pellegrino also highlighted the company’s investment in technology, noting that Domain had “soft-launched our new API management platform” and introduced new products like Audience Boost, which has increased views on residential listings by an average of 24%.
Platinum Edge, another key product, saw a 50% increase in agent adoption, driving growth in high-value listings.
The company reported first-half revenue of $217.2 million, up 7%, while costs increased by 4%. Residential revenue grew 12%, with depth revenue up 14% and site visits rose 23%.
Domain also benefited from its collaboration with Nine, with increased cross-platform branding opportunities during the Australian Open and the launch of a Victorian edition of Prestige magazine.
Looking ahead, Mr Pellegrino said Domain would continue to invest in technology to improve automation and efficiency while maintaining stable EBITDA margins.
“We are progressing our investment into our technology platforms to accelerate the marketplace journey and broaden the range of ‘Only on Domain’ experiences available to our users,” he said.
