CoStar Group Inc. (NASDAQ: CSGP) announced the appointment of Nana Banerjee as an independent member of its board of directors, effective immediately. The appointment expands the board to nine directors, with eight being independent.

Banerjee brings over 20 years of experience leading technology and data-driven businesses. He most recently served as president and chief executive officer of Pelmorex Corp., a weather and climate data company. His previous roles include senior advisor and senior managing director at Cerberus Capital Management, president and CEO of McGraw-Hill, and group president and chief analytics officer at Verisk.

He also held positions as chief operating officer of Argus Information & Advisory Services and head of Citibank's credit card business in the United Kingdom. Banerjee previously served as audit committee chairman and non-executive chairman of Comscore.

"Nana is a respected industry leader with deep expertise spanning centralized data, AI, and advanced analytics organizations," said Andy Florance, founder and CEO of CoStar Group, according to the company's statement.

Louise Sams, independent chair of the board, noted that Banerjee's appointment followed a comprehensive search to identify a director with additional C-suite experience in data analytics.

CoStar Group operates online real estate marketplaces and provides information, analytics, and digital twin technology in property markets. The company's brands include CoStar, LoopNet, Apartments.com, Homes.com, and Matterport.