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Majority of Realogy’s board now independent

IPO required change in board's makeup -- Apollo's Scott Kleinman steps down

A majority of Realogy Holdings Corp.'s board of directors are independent, Realogy said in announcing the resignation of Apollo Global Management lead partner Scott Kleinman from the board and the  appointment of two new independent directors. One of the new board members, Fiona Dias, is currently the chief strategy officer of ShopRunner. The other, Jessica Bibliowicz, is the former CEO of National Financial Partners Corp. Bibliowicz and Dias have been determined to be independent directors for purposes of the listing standards of the New York Stock Exchange, Realogy said. With their appointments, the company has a majority of  five independent members on its nine-member board. Richard A. Smith remains chairman, CEO and president of Realogy Holdings Corp. Securities regulations required that Realogy appoint a majority of independent directors to its board within a permitted phase in period following its October initial public offering. After the IPO, Apollo Global Mana...