CoStar Group Launches Internal Leadership and Accelerator Programs

Rhea-AI Summary

CoStar Group (NASDAQ: CSGP), a leader in online real estate markets, has launched two programs aimed at fostering employee growth: the Leadership and Executive Accelerator Program (LEAP) and the Management Accelerator Program (MAP). Developed with the University of Virginia’s Darden Executive Education School, these programs include multi-day onsite sessions and professional coaching. They are designed to enhance leadership capabilities and drive company innovation. With a focus on strategic vision and team leadership, CoStar aims to prepare its leaders for both current and future opportunities.

Positive

• Launch of LEAP and MAP programs to enhance employee leadership capabilities.
• Partnership with University of Virginia’s Darden School reflects commitment to quality.
• Programs include personalized coaching and real-world project work.

Negative

• Potential risks that LEAP and MAP programs may not deliver expected results.

Programs are Designed to Encourage Growth and Build Capability

Among CoStar Group’s Current and Rising Leaders

WASHINGTON--(BUSINESS WIRE)-- CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today announced the launch of two new programs focused on fostering employee growth.

Developed in partnership with University of Virginia’s Darden Executive Education School, the Leadership and Executive Accelerator Program (LEAP) and Management Accelerator Program (MAP) programs combine classroom learning from top-tier instructors, along with cross-functional project work. The 360-degree assessments and professional coaching were specifically designed to spur growth and development and drive innovation and change at the enterprise level within CoStar Group’s leadership ranks.

“The transition to leadership can be one of the most challenging shifts in a career,” said Michael Desmarais, Chief Human Resources Officer, CoStar Group. “As CoStar Group continues to grow and expand globally, we look to develop our senior talent internally so they are not only experts in their function, but also understand the business at the enterprise level and are prepared to take on expanded leadership roles. Our LEAP and MAP programs are designed to prepare our new leaders for the opportunities before them today – and for those that will exist in the future.”

LEAP takes place across six months and includes three multi-day onsite sessions. In between on-sites, participants will execute business projects and receive one-on-one, individualized coaching. MAP takes place across three months and includes two multi-day onsite sessions.

After each program, participants are expected to be able to: understand the competitive forces impacting CoStar Group’s market positioning, drivers of performance and levels of profitability; articulate a strategic vision and communicate strategies more effectively to ensure optimal alignment across business lines and functions; build and lead high performing teams and functions; and make confident, data-driven decisions amid uncertainty and risk. The programs were also specifically designed to help future leaders gain visibility into their own leadership style and strategically identify areas for growth and development.

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada and Asia. From time to time, we plan to utilize our corporate website, http://www.costargroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar Group's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that the LEAP or MAP programs do not produce the expected results stated in this release. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2021, which is filed with the SEC, including in the “Risk Factors” sections of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (http://www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220413005366/en/

Media:

Matthew Blocher

CoStar Group

mblocher@costar.com

202.346.6775

Source: CoStar Group, Inc.

FAQ

What are the details of CoStar Group's new programs?

CoStar Group launched the Leadership and Executive Accelerator Program (LEAP) and Management Accelerator Program (MAP) to develop employee leadership capabilities.

How long do the LEAP and MAP programs last?

LEAP lasts six months, while MAP runs for three months, including onsite sessions and coaching.

Who partnered with CoStar Group for these programs?

The programs were developed in partnership with the University of Virginia’s Darden Executive Education School.

What are the goals of CoStar Group's leadership programs?

The programs aim to enhance competitive market understanding, strategic vision articulation, and team leadership among participants.

What is the potential risk associated with CoStar Group's new programs?

There is a risk that the LEAP and MAP programs may not achieve the expected outcomes as stated.