David Snider pushed out as Compass CFO

Flywheel's Craig Anderson to join startup next week

TRD NEW YORK /
Aug.August 30, 2017 06:29 AM

Craig Anderson and David Snider

David Snider, Compass’ chief financial officer and one of the main architects of the brokerage’s venture-capital raising machine, is leaving the firm, The Real Deal has learned.

In his place, the venture-backed startup has tapped Craig Anderson, a former COO and CFO of the cycling chain Flywheel, who will assume the post Sept. 5. Anderson will report to CEO Robert Reffkin and will facilitate the startup’s “hypergrowth,” Compass said in a statement.

Snider, an alumnus of Bain Capital, was among the firm’s earliest hires, coming on board as head of finance and operations. He later became the company’s COO and CFO, roles he held until this year when Compass hired Maëlle Gavet, a top executive from Priceline, to be COO.

With Gavet on board, Snider moved into a pure CFO role. During his tenure, Compass raised over $225 million from investors, most recently at a $1 billion valuation. Snider was one of the key people involved in raising the rounds, according to sources familiar with the company.

Compass confirmed the CFO transition early Wednesday. “Robert and the board made the decision that we need an experienced CFO who is a fit with our culture,” said Julie Binder, Compass’ head of communications.

Anderson, who helped expand Flywheel to 40 locations, previously served as president and COO of Opt-Intelligence, an online advertising exchange. He also worked at the Blackstone Group in its restructuring and reorganization group.

In addition to Anderson, Compass has made several C-suite hires this year, including Gavet and Madan Nagaldinne who will be the company’s chief people officer. Binder joined the startup in January.

In a statement Snider said he was grateful to have worked with the company’s founding team for four and a half years. “Compass continues to achieve unprecedented growth and its future is bright,” he said. Snider plans to return to Bain, where he will be an executive in residence working on the venture capital team in New York.

Sources said that several weeks ago, Reffkin approached Snider to inform him that Compass had started looking for his replacement. “We were all shocked,” said a source at the firm, who added that Snider was “highly regarded” at the brokerage and among investors. The source cited tension between Snider and other executives — specifically Gavet — in recent months. “It was noticeable,” the source said. “She has very strong ideas of what needs to be done.”


Related Articles

arrow_forward_ios
Compass CEO Robert Reffkin and Avi Dorfman (Illustration by The Real Deal)

Compass is going to trial in Avi Dorfman case

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

Compass' Rory Golod and Long Island’s North Shore (Credit: Long Island)

Compass sets sights on Long Island’s North Shore

355 Henry Street

Cobble Hill townhouse was Brooklyn’s priciest contract last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

arrow_forward_ios
Loading...