Compass makes some executive cuts

Compass is making another executive office cut.

Compass makes some executive cuts. The residential giant is eliminating its chief operating officer position and parting ways with Greg Hart, it announced Tuesday. CEO Robert Reffkin said he and CFO Kalani Reelitz will assume oversight of Hart’s teams. 

“After playing a material role in our cost restructuring efforts over the past two years and helping the company achieve its goal of being free cash flow positive, Greg Hart and I have decided that now is a good time for him to move on from Compass,” Reffkin said in an email to employees. 

Hart’s total compensation last year was over $4.3 million, according to Compass’ annual report, including $2.3 million in stock awards. His base salary was $442,000 and he was one of the few Compass executives to receive a bonus last year, to the tune of $1.6 million. 

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