REA Group chief executive Greg Ellis will leave the company to take up an appointment overseas.
The company, which runs property websites realestate.com.au and realcommercial.com.au, on Tuesday announced Mr Ellis had handed in his resignation.
He will remain in the role until a successor can be appointed and no date of departure has been announced.
Shares in REA Group, which have more than doubled in the past year, fell $2.70, or almost seven per cent, to $37.76 following the announcement.
REA Group chairman Hamish McLennan said Mr Ellis had overseen a strong period of growth for the company and had led the development of a strategic vision for the group.
"I would like to thank Greg for his outstanding service to the business," he said.
"Greg and his team have delivered record results and we believe that our strategy is well-poised to build on our strong market position."
REA Group is almost 60 per cent owned by Rupert Murdoch's News Corp Australia
