Industry News

ZipRealty CEO resigns

Company president steps in to fill CEO role

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Richard Sommer, CEO for ZipRealty, a real estate brokerage company that offers discounts and rebates to consumers, has resigned "for personal reasons" after less than a year in the position, the company announced Monday, and the resignation is "effective immediately." J. Patrick Lashinsky, the company's president, will fill in as CEO while continuing in his current role. Sommer will retain his seat on the company's board of directors, according to the announcement. It's the latest in a series of upper management changes in the past year. Sommer, who formerly served as CEO for real estate marketing company HomeGain, joined ZipRealty on Sept. 6, 2006, replacing Eric A. Danziger. HomeGain and ZipRealty both launched in 1999 and are based in Emeryville, Calif. "We are sorry to see Richard leave, but are pleased to have him remain actively involved with the company by staying on the board of directors. We wish him all the best in his personal endeavors," said Don Wood, ZipRealty's chairman...