Senior Vice President Michael Arabe has announced his departure from publicly tradedprovider CoStar Group. Arabe will be leaving for personal reasons.
Arabe worked at Bethesda, Md.-based CoStar and a predecessor company, COMPS.com, since 1989. He most recently served as senior vice president of sales and customer service for CoStar.
Stephen Alliegro, CoStar's vice president of sales for the eastern region, will temporarily assume Arabe's responsibilities. Alliegro has worked for CoStar since 1998.
Arabe’s departure is not expected to impact the company’soutlook. "We continue to expect overall sequential quarterly revenue growth of approximately 4% for the second quarter of 2004 and annual revenue growth of approximately 16% for 2004 compared to 2003," CoStar CFO Frank Carchedi, said in a statement.