REA Group (ASX:REA) has announced its CEO, Tracey Fellows is stepping down to take a role as president of Global Digital Real Estate with News Corp (News Corp owns majority ownership of REA).
Tracey has been at the helm of REA since 2014 and will leave the seat on in January 2019.
The outgoing CEO will remain on the board on behalf of News Corp, and she will also help transition her replacement after the role has been filled.
News Corp says hiring Tracey to the role is a sign that the company is committed to growing digital real estate revenues and profits.
Shares in REA are trading 1.3 per cent higher to $76.52.