Zillow Group Inc. has promoted Jeremy Wacksman to CEO and appointed him to the firm’s Board of Directors, the company announced this week.

Wacksman replaces Zillow Group co-founder Rich Barton, who remains on the Zillow Group Board of Directors and becomes co-executive chair alongside Zillow co-founder and current Executive Chair Lloyd Frink.

Wacksman joined Zillow from Microsoft in 2009, climbing the ranks as product leader, chief marketing officer and chief operating officer. 

“Zillow’s business is firing on all cylinders and performing well through a challenging real estate macro,” Barton said in a news release. “This is due in no small part to the leadership of Jeremy Wacksman, with the past three years being a time of particularly impressive innovation for the company. Lloyd and I could not be more confident in Jeremy as CEO, in the caliber of the broader team and in Zillow’s bright future.”

As CMO, Wacksman led the consumer marketing strategy that helped Zillow grow into a household brand with 231 million average monthly unique users. As COO, Wacksman maintained cost discipline and diversified revenue streams, growing the rentals and mortgages businesses, the company said. 

“The work we’re doing to bring the integrated transaction to life through exceptional tech solutions for consumers and agents will transform residential real estate,” Wacksman said. “I love this company and its mission, and I am honored to lead our extraordinary team into the next phase of Zillow’s growth.”