News COO appointed interim chief of REA

News Corp Australia chief operating officer Peter Tonagh has been appointed as interim chief executive of REA Group, the operator of realestate.com.au.

Mr Tonagh will lead the group – which is 62 per cent owned by News Corp Australia – until a successor to outgoing chief executive Greg Ellis is found. Mr Ellis will leave the business for an overseas job on March 14 after resigning in December.

“The recruitment process is well underway,” REA Group chairman Hamish McLennan said.

Mr Tonagh joined the REA board as a non-executive director in October last year.  He will continue his position as chief operating officer at News as he undertakes the interim role from Monday, March 17.

REA currently leads the property listings sector, with a recent net profit of $70.7 million for the first half of the financial year, a lift of 37 per cent on the corresponding period last year.

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