Zillow Group Inc., the housing search website that’s taken a hit to its stock price as it pursues an ambitious plan to buy homes and originate mortgages, is bringing back its first chief executive officer to lead the transformation.
Chief Executive Officer Spencer Rascoff is handing the reins to Executive Chairman Rich Barton, 51, who co-founded the company in 2005. Zillow, whose shares are down 46 percent since June, announced the move along with a quarterly earnings report that shows short-term results below analysts’ expectations. The shares fell as much as 9 percent after the announcement.
Changing the company’s ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.