Greg Ellis resigns as CEO of REA REA Group chief executive Greg Ellis has resigned to take up a job with another company after five years in the role in a surprise departure. A search for Mr Ellis's successor is underway, and he will remain in the role until a successor is appointed. His departure date is still being determined. REA said Mr Ellis's new job was with a non-competitive organisation. "I've always said it is the people at REA Group that sets the company apart from other businesses," Mr Ellis said in a statement. This has been the key to the croup's accelerated performance over the past few years and I am confident that we have the right team in place to lead the future growth of the company. Appointed to the role in 2008, Mr Ellis has overseen a period of phenomenal growth at the classified advertising business, which operates realestate.com.au and is part of the 'new' News Corporation. The group is the largest capitalised Australian media company listed on the ASX and has captured 74 per cent of all local online property searches. REA recently announced an expansion into China early next year after posting a record 26 per cent jump in full-year profit this year. "On behalf of the board, I would like to thank Greg for his outstanding service to the business," REA Group chairman Hamish McLennan said. Greg and his team have delivered record results and we believe that our strategy is well-poised to build on our strong market position. We wish Greg the very best of luck with his future endeavours. I have full confidence in our leadership team and the talented group of individuals at REA Group and we look forward to the continued roll out of our strategy in FY14 and beyond. REA is 62 per cent owned by News Corporation, publisher of The Australian.