PropertyGuru Announces Leadership Transition

Co-founder and CEO of PropertyGuru, Steve Melhuish, is handing over the leadership reins to its current President and Chief Business Officer (CBO), Hari V Krishnan.

After stepping down, Steve Melhuish will assume the role of Vice Chairman and will be handling the company’s longer-term strategy, business growth, and key client relationships full time.

Krishnan will also join the two co-founders — Melhuish and Jani Rautiainen — on the Board of Directors. Krishnan, who has previously served as former VP of LinkedIn’s APAC operations, joined PropertyGuru in January 2016. He was identified as a potential CEO successor back in 2015.

“Hari’s done a stellar job as our CBO these past eight months. His exceptional leadership and people development skills, and vast experience in managing large teams across a complex set of markets and businesses make him the ideal candidate to continue the PropertyGuru success journey,” said Melhuish, in an official press statement.

Founded in 2006, the online property platform claims to generate over S$15 billion (US$11 billion) in transactions per year for its 35,000 real estate developer and agent clients.

Last year, PropertyGuru bagged a S$175 million (US$122 million) Series D from investors including TPG, Emtek Group and Square Peg Capital.

It had plans to go public but that has been put on hold.