Century 21 CEO resigns

Tom Kunz, Century 21 Real Estate's president and CEO since June 2004, has resigned his position, the company announced Thursday.

Rick Davidson will take over the position immediately. Realogy, Century 21's parent company, transferred Davidson from two other subsidiaries, Coldwell Banker Real Estate, where he was chief operating officer, and Coldwell Bank Commercial Affiliates, where he was president and COO.

The company declined to comment on the reason behind Kunz's resignation.

"We thank Tom Kunz for his many years of service to the Century 21 system, and we wish him well in the future," said Alex Perriello, Realogy's president.

Kunz joined the Century 21 system in 1982, according to the company's Web site.

Century 21 is the world's largest residential real estate sales organization with more than 7,700 offices and 117,000 sales associates globally, according to the company.

Perriello also welcomed Davidson, who is a licensed broker in Virginia, Maryland and Washington, D.C., and has more than 20 years of experience in the real estate industry. In 2003, he founded Coldwell Banker Commercial Capitol Realty Services, a commercial brokerage firm in the D.C. metro area.

In May 2006, he became Coldwell Banker Commercial Affiliates' president and COO, and almost exactly one year ago added COO of Coldwell Banker Real Estate to his resume. In these roles he oversaw the company's residential and commercial operations across the globe. ...CONTINUED

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