MaĆ«lle Gavet, Compass’ chief operating officer, is exiting the firm, as the turnover at the company continues to impact key leadership. The company is not replacing her, according to Robert Reffkin, CEO of Compass.
“MaĆ«lle has been instrumental to Compass’ success, helping us grow to over 14,000 agents and 2,300 employees,” Reffkin says. “She scaled our operational teams to support our national expansion to over 130 cities and was instrumental in growing our product and engineering team to over 400 people today. I, along with the entire Compass family, will be rooting for her.”
In the past year, a bevy of executives have left the organization, either pushed out or resigned, including Chief People Officer Madan Nagaldinne and Head of Product Eytan Seidman. In 2018, Compass appointed Kristen Ankerbrandt as CFO, the second hire for the position in the span of a year, as well as hired Joseph Sirosh as CTO.
Gavet was appointed as COO in 2017, and was formerly with The Priceline Group.
“Growing Compass alongside Robert and our amazing employees and agents has been one of the most rewarding and energizing experiences of my life and I am incredibly proud of all that we accomplished,” Gavet says.
Compass is the No. 3 Power Broker in the U.S., earning $45 billion in sales volume in 2018. Last week, Rory Golod, Compass’ regional president in New York, addressed attendees at RISMedia’s 2019 Real Estate CEO Exchange, where he described the firm’s vision as “the single platform to power all real estate transactions, [and] we want to do it via agents.” Golod indicated it expects to garner $80 billion in sales volume this year.
In the past year, Compass has launched a litany of services, including Compass Concierge, and, more recently, Compass Bridge Loans, while being embroiled in lawsuits with Realogy, Zillow and others. Earlier this month, the company’s hub office opened in Seattle, in a bid to build out its technology.