CoStar Shareholders Back CEO Amid Activist Pressure

CoStar shareholders delivered a resounding endorsement of CEO Andy Florance and the board, approving every director nominee and all proposals—including executive pay—with overwhelming support. Florance himself received a staggering 99.5% approval, shutting down activist investor pressure from Third Point and D.E. Shaw who had demanded a shake-up and Homes.com divestment. CoStar stands firm on its strategy, pledging to slash $300 million in net investment in Homes.com by 2026 and aim for profitability by 2029. Florance credited the vote to shareholder confidence in the company’s growth-focused direction and expanded board, while Third Point has already exited the company. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bb02cff9582f9d2b