BETHESDA, MD -- Frank Carchedi, chief financial officer of CoStar Group, Inc. (Nasdaq: CSGP), the leading provider of information services to the U.S. commercial real estate industry, was named the 2001 Financial Executive of the Year by the Institute of Management Accountants (IMA) and Accountants on Call (AOC). The fifth annual award recognizes financial executives for their outstanding performance and accomplishments.
"I am honored to accept this award from the IMA and AOC on behalf of CoStar Group and our employees," Carchedi said. "This recognition acknowledges the sound business fundamentals we've employed to execute CoStar's business model. We are focused on revenue growth and profitability, while remaining committed to delivering the most comprehensive content and information tools available to commercial real estate professionals."
Carchedi joined CoStar in 1997 as the company's chief financial officer, responsible for internal financial operations, including accounting, tax, SEC reporting, human resources, and facilities management, as well as developing business strategy and conducting external communications with financial analysts and investors.
"Frank was instrumental in leading CoStar's successful initial public offering and the subsequent secondary offering to raise over $120 million for the Company," according to Andrew Florance, CEO and president of CoStar Group. "His continuing work in increasing CoStar's business and profitability in our markets, coupled with his financial guidance on several major product roll-outs, strategic acquisitions and staffing and geographic coverage, has been instrumental in the company's ongoing successes."
The IMA/AOC awards ceremony took place at the DoubleTree Hotel, Tysons Corner, Va., on Thursday, May 10th.
About CoStar Group, Inc.
Headquartered in Bethesda, Md., CoStar Group, Inc. (Nasdaq: CSGP) is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access via the Internet to the most comprehensive, verified database of commercial real estate information in over 50 U.S. markets. The company has more than 900 employees and contractors nationally, including approximately 700 highly trained commercial real estate research professionals in 27 offices.