Zillow announced Monday that Kathleen Philips, who serves as the company’s chief financial officer and chief legal officer, is retiring from her role as CFO effective at the end of May.
Philips, who joined the company as general counsel in 2010, will step down as CFO and continue to serve as chief legal officer through the end of 2018 and transition toward retirement in 2020. She will continue to advise Zillow on legal, corporate development, and finance matters after 2018, the company said.
Following Philips’ retirement from the CFO role on May 31, Jennifer Rock, Zillow’s current vice president of financial reporting, technical accounting and financial planning and analysis, will serve as interim CFO while the company begins the search for a new CFO through an executive recruiting firm, the company explained in a press release.
Since joining the company in 2010, Philips played a vital role in Zillow's growth, the company explained. Philips oversaw 14 acquisitions as head of the corporate development team, including the company's purchase of competitor Trulia in 2015. While serving as the company's general counsel in 2011, Philips successfully led Zillow through its initial public offering. Prior to being named CFO in 2015, Philips served as the company's chief operating officer.
"I am very grateful to Kathleen for her partnership and for all she has contributed to Zillow Group over the years," said Zillow CEO Spencer Rascoff. "I've worked with Kathleen for most of my career, and she has been a trusted advisor and friend. Kathleen has helped lead Zillow Group through our most transformative milestones, from our IPO to the acquisition of Trulia. Kathleen started at Zillow as our general counsel but quickly expanded her role to include areas of the company as diverse as customer care and facilities, human resources and finance. She has been a true partner to me and to the entire executive team, and we will miss her greatly."
Outside of her role with Zillow, Philips currently serves on the boards of directors of Apptio, a business management software-as-a-service application provider, and TPG Pace Holdings, a special purpose acquisition company. Before joining Zillow, she served as general counsel of Hotwire, StubHub, Pure Digital Technologies (the maker of the Flip Video camera), and FanSnap.
"I've been impressed by Kathleen from the moment I met her, when she was general counsel at Hotwire," said Rich Barton, co-founder and executive chairman of Zillow Group. "We have not made a single important strategic decision at Zillow Group without Kathleen's intelligence and judgment. I will miss her, but I am pleased that she will continue to be available for counsel."
Interim CFO Rock has been overseeing Zillow's financial reporting, technical accounting and compliance department for seven years, the company said. She has played a leadership role through the company's IPO and acquisitions. Prior to joining Zillow, she spent almost seven years with KPMG.