Costar Group (NASDAQ: CSGP) has announced the appointment of Christian M. Lown as the company's new Chief Financial Officer, effective July 1, 2024. Lown is set to join Costar Group from his role as the Executive Vice President and CFO at Freddie Mac, where he will be serving until June 28, 2024.
Lown brings with him over 25 years of experience in banking, finance, and real estate, having previously served as EVP and CFO at Navient Corporation and spending 11 years at Morgan Stanley, culminating with his role as Managing Director of the Financial Institutions Group.
During his tenure at Freddie Mac, Lown was responsible for the company's accounting, capital oversight, sustainability, financial controls, investor relations, financial planning and reporting, procurement, and tax functions. His expertise in M&A, capital markets, and corporate finance, coupled with his intricate knowledge of the homebuying market, is expected to strengthen Costar Group's financial operations.
As the new CFO, Lown will support Costar Group's rapid scaling efforts through the implementation of best-in-class systems and processes, as well as the continued hiring and development of top-performing employees to support its aggressive growth plans. He will maintain overall responsibility and accountability for the finance function, including accounting, financial planning, internal controls, reporting and compliance, treasury, investor relations, tax, and corporate facilities.
Costar Group's CEO, Andy Florance, expressed confidence in Lown's ability to lead the company's financial operations, highlighting his unparalleled understanding of M&A, capital markets, and corporate finance, which will be crucial as the company continues its growth trajectory.
Costar Group (NASDAQ: CSGP) maintains its position as a leading provider of online real estate marketplaces, information, and analytics in the property markets. The company's websites attracted 170 million quarterly average monthly unique visitors for the first quarter of 2024, signaling its continued prominence in the industry. Today the company's shares have moved -0.6% to a price of $72.73. If you want to know more, read the company's complete 8-K report here.
