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REA Group CEO, Owen Wilson, has announced his retirement for the second half of 2025.
Wilson, who has been with the company for a decade and served as CEO for six years, informed the board of his decision to step down from full-time executive positions in the second half of 2025.
He said leading the company had been a privilege and expressed confidence in its future.
“The business is in excellent shape as evidenced by the results we have announced today. We have an exciting strategy and a talented and committed team to deliver it,” Wilson said.
“I want to thank them wholeheartedly for all the tremendous support I have received over the years.”
Today, REA Group reported a 20 per cent increase in revenue to $873 million for the half-year period ending 31 December 2024, while EBITDA (excluding associates) rose 22 per cent to $535 million.
The company recorded a 26 per cent rise in net profit, reaching $314 million.
REA Group reported that its net profit skyrocketed 246 per cent to $441 million, driven by the gain from selling its PropertyGuru investment and other one-off impacts.
“I am proud of all our team has accomplished,” Wilson said.
He also thanked the REA Group board for the opportunity to work with the company.
“I want to thank them wholeheartedly for all the tremendous support I have received over the years. REA’s future is undeniably exciting.”
REA Group chairman, Hamish McLennan, acknowledged Wilson’s leadership and contribution to the organisation.
“After more than 10 glorious years at REA Group, Owen has decided to retire,” McLennan said.
“His stellar leadership leaves the company exceptionally well-positioned, and REA is one of the best homegrown technology companies which has flourished into being a global leader.”
News Corp CEO, Robert Thomson, credited Wilson for strengthening REA Group’s position as a leading digital platform.
“He has fashioned a dynamic, talented team and cultivated a competitive, empathetic culture,” Thomson said.
“Owen’s positive influence will resonate for many years to come.”
Wilson will remain with REA Group to facilitate a transition with his successor.
The company’s board has begun its selection process, considering internal and external candidates, but is yet to announce a specific timeline for the appointment of Wilson’s successor.
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