REA Group appoints interim CEO

Non-executive director Peter Tonagh will step in until new chief is found.

REA Group (REA) has appointed non-executive director Peter Tonagh as interim chief executive officer, replacing outgoing CEO Greg Ellis who will leave the business on March 14.

REA, the group that owns and, said Mr Tonagh will start as interim CEO on March 17.

Mr Tonagh is the chief operating officer for News Corp Australia and will remain in the role until completion of a global recruitment search for a successor to Mr Ellis.

When Mr Ellis' resignation was announced in December, REA shares dropped more than 8% on the news.

REA Group chairman Hamish McLennan thanked Mr Ellis for his contribution.

"The board has chosen to make an interim CEO appointment to ensure that we can continue to conduct a thorough global recruitment search for a permanent CEO," Mr McLennan said.

“The recruitment process is well underway.

"Peter’s role will be to work closely with the board and the senior leadership team to continue the momentum of the company."

Eureka Report is owned by News Corp Australia.

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