After more than 17 years at the helm, MLS industry veteran and 2025 HousingWire Woman of Influence Merri Jo Cowen has officially stepped down from her role as the CEO of Florida’s Stellar MLS, according to an announcement on Tuesday. She is being replaced by Shayne Fairley.
Stellar MLS had previously announced plans for this leadership transition in late July 2025, noting that the formal transition would occur during the first quarter of 2026.
“I am excited about the next stage of Stellar MLS‘s successful journey, and I look forward to continuing to focus on the priorities we have held for many years: putting our customers first, advancing innovation, and continuing to lead the MLS forward as we help shape the future of real estate in the markets we serve,” Fairley said in a statement. “My focus will be on delivering exceptional value to our brokers while continuing to position Stellar MLS to lead as the industry evolves.”
Prior to assuming his new role as CEO, Fairley served as the MLS’s chief operations officer. Fairley has been a member of Stellar MLS’s leadership team for nearly two decades, joining the MLS in 2005 and has served as COO since 2017. He is also a member of the board of directors at both the Council of MLSs (CMLS) and the Real Estate Standards Organization (RESO).
“Shayne possesses a deep understanding of Stellar MLS and a leadership style rooted in trust, innovation, and service, which will serve him well as he steps into the role of CEO,” Cowen said in a statement. “Over the last few months, as we have been preparing for this transition, he has proven to be the best person for the job. I have every confidence that he will build on our strong foundation and continue to lead the organization forward.”
Cowen joined Stellar MLS in 2008. It was under her guidance that the MLS not only navigated the Great Recession, but grew to become the largest MLS in Florida and Puerto Rico. She also played a role in the MLS’s 2019 rebranding efforts.
In comments to HousingWire, Cowen said, “My time as CEO at Stellar MLS has been a growth journey. Watching our MLS grow from 35,000 to 80,000 over the years has been incredible. Mostly though, it has been the opportunity and honor to work closely with amazing volunteer leaders and my peers nationally.”
“I’ve had the privilege of working closely with Merri Jo for more than 17 years. She leads with vision and heart, and that balance of strategy and genuine care is something I intend to carry forward,” Fairley said.
Despite stepping down as CEO of Stellar MLS, Cowen will remain the CEO of Universal Consulting Opportunities, a subsidiary of Stellar MLS launched in 2024 and focused on building and scaling MLSs worldwide.
“I’m beyond excited to continue my role in leading our subsidiary UCO,” Cowen said. “We are taking the MLS concept globally and it’s a whole new world. Extending our reach across the globe to share our expertise and bring the version of the MLS that works in each region is a joy and a challenge. I love a good challenge and the opportunity to meet leaders across the world that want to improve their marketplaces for brokers, agents ,and consumers!”
Last summer, Cowen said, “Serving as CEO of Stellar MLS has been one of the greatest honors of my career. I’m incredibly proud of what we have built — an MLS that delivers value, innovation, and integrity to real estate professionals and the consumers they serve. Now, I’m ready to step back, and Shayne is more than ready to step forward.”
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