Australian Investment Blog
ASX:DHG 03/07/2018
Domain appoint Google executive to MD role
Stock
Domain Holdings (DHG) $3.17 as at 3/07/2018
Event
The Fairfax News spin off has poached Google Australia Managing Director Jason Pellegrino to fill the Chief Executive role left vacant by Antony Catalano in January. The appointment is a massive coup for the real estate classifieds business which had struggled to replace Catalano who was instrumental in the development of Domain in his second stint at Fairfax. Pellegrino brings a wealth of experience in the online advertising space, having worked in the Asian management team for Google for 10 years and looks poised to take Domain into a new era of development.
Domain Holdings (DHG) Chart
Market Matters Take/Outlook
Domain is linked to both the online advertising space and the housing market, both of which are coming under increasing pressure. DHG may benefit from lower housing clearance rates. We feel peak operating conditions have passed, and despite the promising hire of Pellegrino. Happy to sit on the sidelines here. View the full report here.
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