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Southeast Asian property classifieds group PropertyGuru has announced a leadership transition and new board of directors as Hari V Krishnan steps down as CEO.
Krishnan, who helmed the company for a decade and played a pivotal role in transforming PropertyGuru to a proptech leader, will be replaced by Lewis Ng, effective March 2025.
Per the announcement, Krishnan has “decided to pursue new interests”. He will continue to be closely involved with PropertyGuru as senior advisor to the board.
“After an incredible decade, I have decided that the time is right for me to pursue new interests and for the company to transition to new leadership,” Krishnan said.
During Krishnan’s tenure, PropertyGuru achieved significant milestones, including its public listing on the New York Stock Exchange and its EQT Private Capital Asia acquisition.
He also oversaw the development of new businesses and solutions that catered to the entire consumer journey.
“During my tenure, I’ve had the privilege of working with amazing teams to achieve some significant milestones and I am very proud that we have done so while building a culture that fosters inclusion and innovation – something I consider unique and our competitive differentiator,” He said.
On the other hand, Ng was with PropertyGuru for nearly six years, from 2014 to 2019, where he served as managing director of Singapore and chief business officer for the group.
He previously held leadership roles at Apple, TripAdvisor, Carousell, and SEEK Asia, where he drove growth and operational excellence.
“I am thrilled to return to Property Guru… the company’s journey over the past decade under Hari’s leadership has been remarkable, and I am excited to build on this strong foundation as we look to the future,” Ng said.
Aside from the CEO change, PropertyGuru also announced the appointment of Trevor Mather chairman of the board of directors. Mather, known for scaling marketplace businesses, brings experience from his tenure as CEO of Auto Trader and Chairman roles at Baltic Classifieds Group and Trade Me.
Other board members include Janice Leow, a partner at EQT Private Capital Asia, and Ed Williams, founder and former CEO of Rightmove.
PropertyGuru was acquired by Swedish alternative investment EQT in a transaction that valued it at $1.1 billion. The deal was made through BPEA Private Equity Fund VIII, now part of EQT’s Asia investment platform.
PropertyGuru is one of Southeast Asia’s largest online property listing platforms, with over 2.1 million listings on its site.
Since its inception, the proptech firm has expanded into mortgage finance and developed B2B services targeting property developers and agents. The firm was listed on the NYSE through a SPAC merger with Bridgetown 2 Holdings in 2022.
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