Domain CEO Antony Catalano resigns
Fairfax’s real estate listings and content portal Domain has announced its CEO Antony Catalano is leaving the business.
Catalano re-joined Fairfax in 2013
Domain exists as a Fairfax-controlled ASX-listed entity after it was separated from the main publishing business last year.
The business will conduct a local and international search for Catalano’s replacement. In the interim, Domain chairman Nick Falloon will act as executive chairman, with the leadership team reporting into him.
With the fizz out of the property market, Catalano has done a runner and fair enough for doing so.
Domain can only go down as it’s highly correlated with the property market bubble.
Catalano has set up the split of Domain from Fairfax so is he now leaving to join tpg in a bid? Or has he simply bailed?
Either way this is shocking. The fairfax board and especially Hywood have a very large amount I explaining to do. The Cato spin can’t cover this.
That’s a real shame. The Cat is a great leader and has entrepreneurial spirit.
Openly putting one’s family first is no crime and as much as we like to think Sydney is the centre of the Universe, it really isn’t. Very best of luck to him.
This bloke has been talking up his role and his status in it for a long time. Two months after he gets it, he announces that it does not suit his family commitments. One of his media apologists actually suggests that he is a victim of Fairfax NOT giving him support! Really? Were there no adults in the room on this one?
Catalano lasted two months without Greg Hywood. What an embarrassment for Fairfax fools. Conned by the Cat.
Well Everyone at fairfax was well aware of Catalano’s personal style. Hywood and his minder Hambly were particularly close and in fact gifted catalano the fairfax real estate business. None of them can say they were not well aware that this might happen. Now we await the drop of the next shoe. Spin won’t work this time.
Some of were quite concerned when it emerged that catalano was given so much control when fairfax bought his business. But since then management have trumpeted his role so loudly that reservations were suppressed. Then there was that public display of his promotion of a buyout. Now this.
Shareholders are entitled to a full independent accounting of all this and the reports that catalano was very tight with the ceo.