Another C-suite shakeup at Compass: Top HR exec is out

Priyanka Singh will leave brokerage Dec. 15

Residential Real Estate, Compass
Priyanka Singh (Compass, Getty)

Priyanka Singh, the top human-resources executive at Compass, is leaving the firm.

Singh, who became the residential brokerage’s Chief People Officer about a year ago, has resigned, according to the firm’s most recent filing with the Securities and Exchange Commission. Her last day will be Dec. 15.

Singh’s departure is the latest in a string of C-Suite shakeups at the company over the past year. Cushman & Wakefield alum Kalani Reelitz started as CFO this week, ending a two-month stretch during which the firm operated with CEO Robert Reffkin as interim CFO. The company laid off its chief technology officer, Joseph Sirosh, this summer, saying it had completed the rollout of its tech platform, which the firm claims it has invested $900 million in and believes will be its long-term competitive advantage in the market.

Compass is looking to slash costs by $320 million by the end of this year. It has engaged in multiple rounds of layoffs toward that end, most pronounced in its product and engineering teams.

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Singh’s compensation last year was $265,000, according to SEC filings, though her base salary was listed as $350,000. She got a $150,000 sign-on bonus and a $140,000 performance-related bonus. She also held $2.2 million in stock awards, according to the filings. Singh will be replaced by her deputy, Margaret Smith, who has been with the firm for five years.

Singh took over the CPO position in December 2021 from Anand Mehta, who held the position for a year-and-a-half. Mehta’s predecessor, Sara Patterson, lasted just 90 days in the position.

Compass stock rebounded last week after its third-quarter earnings were released, despite another quarter in the red. The company’s total losses amounted to $154 million and their quarterly cash burn rose to $76 million, but investors were enthused by the company’s growing market share and rising agent count. The stock has since dropped to $2.82 on Friday, after hovering at $3.50 post earnings.