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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…
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