Domainfax Fat Cat shock exit

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Lordy, is property falling apart suddenly? via Domainfax:

The chief executive of real estate classifieds group Domain, Antony Catalano, has announced his sudden resignation, just two months after the company was spun off from Fairfax Media and listed on the ASX as an independent entity.

…”I understand and regret that the timing of this decision is unusually short from Domain’s listing,” Mr Catalano said in a statement.

…”It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment.

…Mr Catalano, who has eight children, was crucial to Domain’s impressive revival over the past decade.

Given MEA, is a DHG profit warning imminent? It is down -11% at the open. Not much fun for property stocks today…

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.