Zillow Group Promotes Jeremy Hoffman To CFO
SVP of corporate development succeeds Allen Parker, who held the post since 2018.
Zillow Group Inc. said Thursday that Jeremy Hofmann has been promoted to chief financial officer, succeeding Allen Parker, who will serve in an advisory role into the first quarter of 2024.
Effective Thursday, the Seattle-based online real estate company said, Hoffman now oversees Zillow's finance, corporate development, strategy and investor relations teams, and reports to co-founder and CEO Rich Barton. There is no change to the second quarter 2023 guidance issued in Zillow's first quarter 2023 report released on May 3, the company said.
Hofmann joined Zillow Group nearly six years ago and most recently served as senior vice president of corporate development and strategy, with deep experience in strategy, finance, budgeting and operations rigor, investor relations, mergers and acquisitions and partnerships.
He led Zillow's redefined Housing Super App strategy in early 2022 and has been a key driver of its execution over the past 18 months, the company said.
"Jeremy has been an integral part of Zillow's growth since he joined the company," Barton said. "He's at the center of our strategy to capture a greater share of customer transactions in real estate while making it easier for more and more people to get home. Jeremy is key in driving progress on our growth strategy with operational and financial discipline, and I'm looking forward to him having an even bigger hand in shaping the future of Zillow as our CFO."
Parker had served as CFO since 2018.
"Allen brought an operating mindset and focus on processes through a changing macroeconomy and Zillow's strategic shift toward the transaction," Barton said. "We're very grateful for Allen's leadership over the past five years, and for his continued support of the team over the next few quarters to ensure a smooth transition."
Before joining Zillow, Hofmann spent nearly 10 years in financial services, predominantly at Goldman Sachs, where he was a vice president in investment banking, closing more than $40 billion in transactions. As SVP of corporate development and strategy at Zillow, he has led many critical workstreams, the company said, including:
- Driving the launch and execution of Zillow's Housing Super App strategy in early 2022.
- Deploying a cross-functional team to drive budgeting and operating efficiency measures in 2019, which have since been realized across the business.
- Driving effective capital management programs since 2019 to support organic and strategic growth, while also returning excess capital to shareholders.
- Raising more than $2.5 billion in equity capital over the past five years to support prior growth strategies.
- Initiating a $1.8 billion share repurchase program in late 2021.
- Leading several key company acquisitions and partnerships, including the acquisition of ShowingTime in 2021, and
- Overseeing investor relations since 2020.
"Being part of Zillow's growth over the last six years has been incredibly rewarding," Hofmann said. "Zillow has always been a leader in delivering transformative tech-enabled solutions for customers and partners in real estate, and I couldn't be more optimistic about the opportunity in front of us. I'm excited to take on this new challenge, leading our business with a strong focus on driving revenue and prudently managing costs on behalf of our shareholders."