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  "docSlug": "de028a1085e6",
  "documentTitle": "Zillow Group, Inc. (Z)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-03-05 00:00:00",
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  "pageNumber": 93,
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  "slideType": "villain_critique",
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  "notes": "The slide uses red arrows to connect the SEC filing text regarding the new CFO's age (37) to Korn Ferry's benchmark data showing the average CFO age is 54.",
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      "text": "Zillow's former CFO, who served for ~6 years, resigned in May 2023 with no clear explanation for the transition. He was replaced by Jeremy Hofmann (37), who previously served as Zillow's SVP of Corporate Development and Strategy. Moreover, Mr. Hofmann has never held a public company CFO position, has no functional accounting or financial reporting experience, and is relatively young for the position based on a Korn Ferry analysis.",
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      "kind": "callout",
      "text": "Zillow's former CFO, who served for ~6 years, resigned in May 2023 with no clear explanation for the transition. He was replaced by Jeremy Hofmann (37), who previously served as Zillow's SVP of Corporate Development and Strategy. Moreover, Mr. Hofmann has never held a public company CFO position, has no functional accounting or financial reporting experience, and is relatively young for the position based on a Korn Ferry analysis.",
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      "text": "Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Executive Officer Changes... Mr. Hofmann, 37, has served in various leadership roles at Zillow...",
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      "text": "Source: CFO announcement, Korn Ferry report",
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      "text": "AGE AND TENURE IN THE C-SUITE. Korn Ferry analysis of 1,000 largest U.S. companies by revenue. Average Age: CEO 59, CFO 54, CIO 55, CMO 54, CHRO 55, C-Suite 56. Average Tenure: CEO 6.9 years, CFO 4.7 years...",
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      "text": "CFO Abruptly Departs With No Real Explanation",
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