Realogy Holdings chairman, CEO and president, Richard Smith today announced the promotion of John Peyton to president and CEO for the Realogy Franchise Group, effective April 1.
He will succeed Alex Perriello, who will become chairman emeritus for RFG (Realogy Franchise Group).
Smith, who was named chairman of Realogy’s board in March 2012, has led the company’s business operations since 1996.
Realogy’s operations cover real estate franchising, brokerage, relocation and title services. Its companies include the Realogy Franchise Group, which consists of Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby’s International Realty.
Smith said: “John has brought a fresh perspective to our company from his tenure as a global branding leader in the hospitality industry, and I am confident in his ability to continue leveraging his valuable insight on behalf of our leading real estate brands.
“He is the right business leader to focus our efforts and execute our plans for continued strategic growth and innovation at the Realogy Franchise Group. John has been working closely with Alex for the past five months, and we expect a smooth leadership transition.”
Peyton will be responsible for managing RFG’s portfolio of real estate franchise brands as well as ZapLabs, Realogy’s innovation and technology development hub.
Before joining RFG as president and chief operating officer in October 2016, Peyton was a senior executive with Starwood Hotels & Resorts Worldwide specializing in driving innovation and building loyalty for the company’s leading hotel brands.
“I am committed to driving strategic new growth for the Realogy Franchise Group. We will continue to strive to thoughtfully enhance the value proposition that we deliver for brokers, agents and consumers affiliated with each of our respective franchise brands,” said Peyton.
On Perriello’s new position as chairman emeritus for RFG, Smith said: “Alex has made a lasting mark on the residential real estate industry and all those who know him.
“We are deeply grateful to Alex for his visionary leadership and service to Realogy and our franchise brands for the past 34 years. We look forward to Alex’s continued guidance in his new role as chairman emeritus for RFG.”
Perriello, who has been CEO of RFG since 2004, said: “Real estate is a relationship business, and I have been extremely fortunate to have worked with some of the very best people and brands in the industry during my 34-year tenure at Realogy.
“Our leadership team, affiliated brokers, agents and employees are an amazing group of dedicated individuals, and I am so proud of what we have accomplished together.”
With an eye toward the future of residential real estate, Perriello led the effort to create the Realogy FWD Innovation Summit in 2013, an annual event designed to find and attract the best new technology products and services for Realogy’s affiliated franchise networks and company-owned residential real estate brokerages.