WASHINGTON, Nov. 19, 2015 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces, today announced that it has named Scott Wheeler Chief Financial Officer. Mr. Wheeler will report to Andrew Florance, Founder and Chief Executive Officer of CoStar Group.
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An established leader with extensive experience in optimizing and closely managing finance functions for multibillion dollar, global corporations, Mr. Wheeler will serve as an essential member of the company's executive leadership team and maintain overall responsibility and accountability for the finance function, including accounting, financial planning, internal controls, reporting and compliance, treasury, investor relations, tax, and financial operations.
"CoStar Group continues to build momentum as we help transform the commercial real estate industry to benefit our clients and consumers," said Florance. "We're thrilled to welcome Scott, who not only brings decades of financial experience to the company, but a proven operational track record and excellence that reflects our values, and will help us achieve our goals as the company continues to scale up."
Prior to joining CoStar Group, Mr. Wheeler served at Experian, a global information services group with operations in 40 countries, as CFO of both Experian North America as well as Experian Global Technology Services. During his tenure, Experian grew from $3 billion to $5 billion in revenues.
He also served as Vice President, Finance and Information Systems for global manufacturer Avery Dennison, and played a pivotal role in the growth of GE Plastics as a leader of the global mergers and acquisitions team and Chief Financial Officer, GE Bayer Silicones. He has also served in financial leadership positions at Deloitte & Touche, LLP.
"CoStar Group thrives on both information and innovation," said Wheeler. "As the company continues to grow and transform the industry, I'm excited to be part of a leadership team that focuses on delivering the very best for our customers – and a finance team that focuses on thoroughness, best practices and strong results."
About CoStar Group
CoStar Group, Inc. (NASDAQ:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10.0 million registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group operates websites with over 23.7 million unique monthly visitors in aggregate as of September 2015. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Toronto with a staff of approximately 2,850 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that the trends represented or implied in the release will not continue or produce the results suggested by such trends, including the possibility that CoStar's momentum in the industry shifts; the risk that CoStar's operational plans change; and the risk that CoStar is unable to achieve its stated goals when and as expected. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2014, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, each of which is filed with the SEC, including in the "Risk Factors" section of the filing, as well as the company's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.
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