WASHINGTON, July 23, 2012 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) today announced that its Chief Financial Officer, Brian Radecki, has been named CFO of the Year for 2012 in the large company category by the Washington Business Journal. The award was presented during a luncheon honoring the finalists and winners on July 19 in Washington, DC.
Now in its sixth year, the CFO of the Year award honors senior financial professionals in Greater Washington for outstanding performance in their roles as corporate financial stewards. The awards for 2012 were given to the chief financial officers and their teams who delivered the most outstanding performance for their companies between January 2011 and June 2012. A panel of independent judges, drawn from the region's top financial leaders, determined the winners based on criteria that included:
- Demonstrated financial growth during the year;
- Success in overcoming significant business challenges or barriers;
- Examples of team leadership and superior management;
- Other factors may include a chief financial officer's contributions to the community (such as social, nonprofit or charitable giving); and
- Demonstrated commitment to the company's financial best practices and accounting standards, or success as a strategic visionary for the enterprise.
"Brian Radecki is both an extremely valuable and highly respected member of our leadership team," stated CoStar Group Founder and CEO Andrew C. Florance. "In addition to his outstanding leadership, Brian has demonstrated absolute integrity and a profound commitment to operational excellence here at CoStar. Brian and his team have contributed immeasurably to the company's success, and we are very pleased to see him recognized as a leader among financial professionals."
Since joining CoStar in 1997, Mr. Radecki has overseen or played a major role in every aspect of the company's accounting and finance operations in the U.S. and U.K. – from internal audit, tax and budgeting to SEC reporting, Sarbanes-Oxley compliance and due diligence. When CoStar completed its $22.7 million IPO in 1998, he was an integral member of the capital-raising team. Mr. Radecki also led the subsequent creation of an internal audit group, ensuring the integrity of all financial reporting and internal controls for the newly public company. He has had a critical role in multiple capital raising events as well as more than a dozen acquisitions.
Most recently, Mr. Radecki played an instrumental role in the funding and completion of CoStar's $860 million acquisition of LoopNet, Inc., a leading online commercial real estate marketplace.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of information, analytics services and marketing. 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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 5.8 million registered members and 3.6 million unique monthly visitors. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe including the industry's largest professional research organization. For more information, visit www.costar.com.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's plans, objectives, expectations, beliefs, intentions or strategies regarding the future. These statements are based upon the current beliefs and expectations of management of CoStar and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2011, and CoStar's Form 10-Q for the quarter ended March 31, 2012, under the heading "Risk Factors." All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.