Domain (DHG) Pinches Google Australia Boss For CEO

Companies and indices mentioned:

Domain Holdings Australia Ltd (ASX: DHG) has announced Jason Pellegrino as the new CEO and Managing Director. He has been the Managing Director of Google Australia and New Zealand since 2016 and is also a member of the Asia-Pacific regional leadership team.

Domain Holdings Australia is the company which owns the property sales portal business Domain, Allhomes and Commercial Real Estate.

Mr Pellegrino will be paid a fixed package of $1.2 million including superannuation, he will also have short term and long term incentives if he hits total shareholder return hurdles. He will also receive a $500,000 cash bonus for joining and $2,000,000 in shares that will vest after being employed for two years.

Not bad for some!

The Chairman of Domain, Nick Fallon, said: “We are delighted to have Jason join Domain as CEO. Jason’s career as a digital executive with deep experience in sales, strategy, operations and product and technology speaks for itself.”

Mr Pellegrino holds a Bachelor of Commerce degree from the University of Wollongong and an MBA from London Business School. He said: “I am delighted to be joining the incredibly talented team at Domain and I can’t wait to be part of the exciting growth journey ahead.”

The Domain share price is currently up 2.2% after early trade in response to this news according to Google Finance. 

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Jaz Harrison

Jaz Harrison

Jaz is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.