Spencer Rascoff and Rich Barton (Credit: Getty Images)
Zillow Group is replacing CEO Spencer Rascoff with co-founder and former CEO Rich Barton, the company said in an SEC filing Thursday.
Rascoff, also a co-founder, led Zillow as CEO from 2010 through its IPO — and will remain with the company until March 22. He’ll stay on the board of directors after Barton takes over.
Barton has been executive chairman since stepping down as CEO. The move comes as Zillow has faced challenges amid slowing home sales and rising interest rates. The company’s stock is down more than 25 percent in the last 12 months.
Powered by WPeMatico