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Domain CEO Antony Catalano has stepped down without warning, not even three months after the property portal listed on the ASX.
In a statement, Antony Catalano cited family reasons for the exit, as reported by the ABC.
“When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job,” Mr Catalano said.
“It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment.”
The ABC also reported that he has eight children.
A search for a new chief executive will be started, and until one is found, chairman Nick Falloon will act as executive chairman, Fairfax Media reported.
Mr Falloon said: “Antony informed the board that over the Christmas break, he had realised that the demands of his role and his absence from the lives of his family were proving more challenging than he had expected and he had decided to put his family first.”
It’s understood that in a statement to staff, Fairfax chief executive Greg Hywood reiterated that it was “business as usual for Domain”.
REB has contacted Domain for comment, and more on this story will follow as news comes to hand.
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