CoreLogic CEO steps aside 10 months after takeover battle ends

Frank Martell, who steered CoreLogic through its contentious takeover battle, is stepping aside as president and CEO of the Irvine, California-based property information and analytics company.

Martell will become the non-executive chairman of the board at CoreLogic, while Pat Dodd, its chief operating and growth officer since September 2020, steps up as interim president and CEO.

"I am proud to have created significant stakeholder value by leading the transformation of CoreLogic over the past decade into a scaled leader providing must-have data, platforms and analytics that power the residential housing ecosystem," Martell said in a press release. "With the company operating at record levels and with a deep and talented leadership bench in place, it is now time for me to step back from my operating role."

Prior to joining CoreLogic, Dodd had worked at Nielsen, most recently serving as NielsenIQ global president and chief commercial officer, according to his LinkedIn profile.

"CoreLogic is well positioned to capture the many opportunities in front of the company as a privately held firm," Martell said. "Pat is a very talented leader, and I am confident he will take the Company forward and create incredible value in the years ahead."

Martell joined CoreLogic in 2011 as chief financial officer before being promoted to chief operating officer in 2014. Following the sudden passing of Anand Nallathambi in March 2017, Martell became CoreLogic's president and CEO. In November 2021, he was also named to the board of directors for Compass, a residential real estate brokerage that went public earlier in the year.

In June of that year, CoreLogic purchased appraisal technology company Mercury Networks, a precursor to the business model shift Martell undertook.

CoreLogic announced in December 2018 that it would exit loan origination software and default management to concentrate on the appraisal management company business, a move that Martell credited for the company’s success in 2019’s year-end earnings.

But in June 2020, Cannae Holdings and Senator Investment Group made a hostile bid for CoreLogic, starting a takeover battle that lasted through March 2021. At the end, CoreLogic went private with the acquisition by Stone Point Capital and Insight Partners, but only after a second hostile bid, this time from CoStar Group.

"We greatly value and appreciate Frank's leadership and his many contributions to CoreLogic before and after our acquisition of the company," Stone Point CEO Chuck Davis said. "We look forward to continuing to have access to his knowledge of the company and the residential property vertical as our board chair and an equity investor."