Zillow Group CFO Chad Cohen is stepping down after nine years at the Seattle online real estate company.
Cohen will step down on Aug. 7 to “pursue other business interests,” according to Zillow. He has been with Zillow since the company’s inception in 2006, starting as a corporate controller and taking on the VP of Finance role in 2010. Cohen became CFO in 2011.
He is one of few top executives to leave Zillow, which has largely held its management team intact since 2006.
“Chad has made meaningful contributions to Zillow during his nine years here” CEO Spencer Rascoff said in a statement. “In 2006, I hired Chad as our first corporate controller when I was Zillow’s first CFO. During his tenure, Chad has built an excellent team who have implemented tight financial controls and efficient processes that have allowed us to scale through Zillow’s IPO, our rapid growth and our acquisition of Trulia and establishment of Zillow Group. He has left us with a strong foundation and an excellent team to see us through this next phase of our growth. We wish him the best in his future endeavors.”
Zillow said it is searching for a new CFO and will provide an update during its second quarter earnings call next month. The departure comes five months after Zillow closed the $2.5 billion acquisition of rival Trulia, the largest deal in the company’s history.
Shares of Zillow are down nearly 5 percent in after-hours trading. We’ve reached out to Cohen for more details on his next move and will update this post as we hear more.