Eytan Seidman | Courtesy: Compass
Compass is completely restructuring its departments and leadership team to streamline operations. The move will consolidate the marketing and product departments, with top executives Eytan Seidman, head of product, and Khurrum Malik, chief marketing officer, leaving the company.
“One of my favorite things about Compass is our passion for getting better every day by following our entrepreneurship principles,” Compass CEO Robert Reffkin said in a statement.
Khurrum Malik | Courtesy: Compass
“From changing our name from Urban Compass to Compass, to shifting our focus from breadth to depth this year, we are constantly working together to improve every aspect of our company,” Reffkin added. “I know when things are going well is the time to make these moves, so we are using this opportunity to make organizational changes that will make Compass stronger.”
A spokesperson for Compass declined to say if the two executives resigned or were fired. The spokesperson also told Inman there will not be layoffs as a result of the restructuring.
A search for a new chief product officer is underway with Compass’ current vice president Pooneet Kant serving in the role in the interim. The position of chief marketing officer is being eliminated entirely and those responsibilities will distributed across the company and overseen by Maelle Gavet, Compass’ chief operating officer.
Maelle Gavet | Courtesy: Compass
Matt Spangler, currently the chief creative officer, will take a new role as chief brand and communications officer. Christa Patrylak, currently a vice president with the company, is being elevated to oversee Marketing, Media and Measurement.
Matt Spangler | Courtesy: Compass
The product design team will transition to the engineering team and report to Joseph Sirosh, the company’s chief technology officer, and the product marketing team will move from the marketing organization to the product organization.
Every senior leader will report either to Reffkin or Gavet.
Reffkin announced the changes today in a letter to all employees and specifically noted that Gavet will be heading up a team called, “New Ventures.” Reffkin himself will shift the focus to managing the product department and the company’s tech platform moving forward.
“We all envision Compass as a platform that powers our industry and believe now is the time to build out a New Ventures group to advance this strategy further,” Reffkin said. “To accomplish this, two proven Compass employees, Ashton Alexander and Rory Golod, will work in partnership to grow our aftermarket opportunities such as the vendor services marketplace.”
Read Reffkin’s full letter below:
Compass Family,
Like you, Compass is obsessed with always getting better. From changing our name 4 years ago (Urban Compass to Compass), to shifting our focus from expanding to new markets to going deep in our current markets, we are always working together to improve every aspect of our company. I’ve learned that the best time to make organizational changes is when things are going well. As we complete our best quarter ever we’re making a few changes to help our 2,500+ employees make decisions faster so they can serve our 12,000+ agents better.
I’d like to tell you about these exciting organization changes, including important promotions and restructuring around our core areas of focus:
Maëlle and I are splitting our responsibilities more clearly. To build the future of the industry we all want, we need to support our brand and people and begin identifying new growth opportunities. I’ve asked her to take full ownership of People & Culture, Marketing and a new team called New Ventures. As part of this we have made some key personnel moves to streamline these departments and set them up for success.
Matt Spangler is being promoted to our Chief Brand & Communications Officer bringing two teams together in a more powerful way to strengthen our ability to support your business with integrated creative, communications and PR.
Christa Patrylak is expanding her role to VP of Digital Marketing, Media & Measurement to drive brand scale for our customers and consumers to deliver more traffic and leads.
Khurrum Malik (CMO) will be leaving the company to pursue new opportunities.
We all envision Compass as a platform that powers our industry and believe now is the time to build out a New Ventures group to advance this strategy further. To accomplish this, two proven Compass employees, Ashton Alexander and Rory Golod, will work in partnership to grow our aftermarket opportunities such as the vendor services marketplace. Rory will continue to be the GM of NY while we search for his replacement.
We’re streamlining our technology teams. Maëlle, Eytan, and Joseph have done an outstanding job building out our tech strategy and roadmap while hiring 165 new team members this year, including 15 Senior Engineering managers. To further accelerate this core business strategy, we will be consolidating Application Design under our Chief Technology Officer, Joseph Sirosh. Our Head of Product, Eytan Seidman, is departing for an exciting new opportunity and we have opened a search for a new Chief Product Officer. Starting today, I will be focusing more on managing this department and our tech platform moving forward. We have incredible momentum and a path to success in tech that is more clear than ever.
I appreciate the contributions of Khurrum, Eytan and everyone who’s been a part of the Compass journey over the past 6 years. Because of the pathways they’ve paved, and the teams they’ve built, we’re set up for a future of success. As I return today from the Nashville REtreat after time with so many of you I am grateful and filled with joy and enthusiasm about the momentum we’re building together. Thanks to each and every one of you for all you do every day to make Compass great. Maëlle and I couldn’t be more excited about the future we’re building together.
Robert
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