Compass cuts more off the C-Suite, eliminates COO 

Compass is making another C-Suite cut.

The residential giant is eliminating its chief operating officer position and parting ways with Greg Hart, it announced Tuesday. CEO Robert Reffkin said he and CFO Kalani Reelitz will assume oversight of Hart’s teams. 

“After playing a material role in our cost restructuring efforts over the past two years and helping the company achieve its goal of being free cash flow positive, Greg Hart and I have decided that now is a good time for him to move on from Compass,” Reffkin said in an email to employees. 

Hart’s total compensation last year was over $4.3 million, according to Compass’ annual report, including $2.3 million in stock awards. His base salary was $442,000 and he was one of the few Compass executives to receive a bonus last year, to the tune of $1.6 million. 

The move comes after 2022 served up a round of C-Suite shakeups at Compass.

In August, Compass let go of Chief Technology Officer Joseph Sirosh in August and eliminated the position, citing the completion of its then-$1 billion technology platform. In November, the company eliminated the chief people officer position after Priyanka Singh resigned. The firm eliminated its president of customer success position after Danielle Wilkie left the firm in January 2023.

Wilkie’s responsibilities were assumed by President of Growth & Communications Rory Golod, who also took charge of Compass’ public relations team last year. Singh’s responsibilities were given to her deputy Margaret Smith and Sirosh’s position was divided between Kendra Shimmell and Shay Artzi. None of them were promoted to the C-Suite level.

Former CFO Kristen Ankerbrandt’s C-Suite position is the only one Compass filled last year, hiring Reelitz from Cushman & Wakefield. 

The brokerage was in good company last year, with executive shakeups popping up atop a few of the industry’s biggest firms. 

Anywhere let go of Coldwell Banker CEO Ryan Gorman in December. 

Instead of replacing its $3.5 million man with a new hire, Anywhere promoted Susan Yannaccone to absorb his position. Her total package at the time was roughly half that of Gorman’s.

Anywhere said the decision was made to streamline operations: Gorman oversaw Coldwell Banker, the real estate conglomerate’s owned franchise, while Sue Yannaccone oversaw the firm’s franchised brands

Virtual brokerage eXp Realty started the new year with a familiar face, in the form of Glenn Sanford. 

Sanford, who founded the online brokerage in 2009, returned to the chief executive role while holding on to his responsibilities as chairman and chief executive of eXp World Holdings, the parent company of the brokerage that as of January counted 86,000 agents across the world.