A CEO announcement or two here, a dip in transaction volume there -- bits of news dropped like dots on a map. Connected, they form a bigger picture: 10 executive-level shifts in nine months, and the makings of a seemingly aggressive regrouping strategy. That's the current situation at Realogy, one of the biggest power-players in the real estate industry. Business unit shake-ups and a new agreement with the company's reigning chief executive indicate that, while this water bird appears to be serenely floating along, furious movement is happening beneath the surface. According to very recent SEC filings, the Realogy board of directors is focused on CEO succession planning. As part of that work, a board committee is recruiting to fill a newly created position of president and chief operating officer -- presumably a candidate to be CEO Richard Smith's successor. And in the last nine months, Realogy Franchise Group Alex Perriello has retired and the CEOs of the firm's two largest br...
- Realogy, which owns and operates several large real estate brands, is still profitable, but its growth has been slipping.
- The company has made (and plans to make) several executive hires to keep the bottom lines healthy in 2017, and a succession plan is being made for CEO Richard Smith.
Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018