Singapore: PropertyGuru names Hari Krishnan as CEO, founder Melhuish to oversee strategy

Photo: PropertyGuru. Hari Krishnan (middle) will act as the new CEO of PropertyGuru.

Singapore headquartered PropertyGuru, Asia’s leading online property group, has made major changes to its leadership position.

The group has appointed Hari Krishnan, former chief business officer, as the chief executive officer while Steve Melhuish, the former CEO, will be acting as a vice chairman.  As vice-chaiman, Melhuish will focus on the company’s longer-term strategy.

The changes are aimed to enable PropertyGuru to focus on long term strategy and business growth, the company announced.

Melhuish and Jani Rautiainen founded PropertyGuru in 2006. The portal currently has 1.3 million listings of properties from 13 countries with 16 million registered buyers.

The group covers Malaysia, Indonesia and Thailand. It received an investment of S$175 million from TPG, Emtek Group and Square Peg Capital in 2015.

The leadership-level transition was initiated two years ago by the founders and Krishnan was identified as a potential CEO successor since his appointment as a president and CBO in January 2016. He was earlier with LinkedIn as the vice-president for Asia Pacific & Japan.

“We’re on track to return to profitability next year, after five years of aggressive investment in regional expansion, product innovation, marketing, and developing a world-class leadership team. As such, Jani and I felt that now was the right time to pass the baton,” said Melhuish, after about nine years acting as a CEO of PropertyGuru, overseeing over 420 staff.

He said their group is in a “very strong position today,” holding a number one position in their core markets.

The group to date has handled over S$15 billion worth of property transactions per annum for its 35,000 real estate developer and agents.

The new CEO will be focusing on real consumer needs in the market while work closely with the team, customers and consumers.

“I am excited to lead the Company’s next phase of growth, working with our talented team to bring more exciting innovations to property seekers and to deliver more value to our customers,” said Krishnan.

Lewis Ng, managing director for the Group’s Singapore operations, will take charge as CBO following Krishnan’s elevation.

Rautiainen, managing director and board member of PropertyGuru Group will also be taking the new Executive Director role to support the long-term business development.

Also Read: 

Singapore: PropertyGuru appoints LinkedIn exec Hari Krishnan as president

Exclusive: Singapore-based real estate portal PropertyGuru defers listing plans

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.