RE/MAX Holdings, Inc. today announced that Margaret Kelly has decided to retire from her position as Chief Executive Officer (CEO) and resign from the Board of Directors. The RE/MAX Board of Directors elected Dave Liniger, Chairman of the Board and Co-Founder, to the position of CEO. The changes are effective December 31, 2014.
“I’m grateful to have had the opportunity to be a part of the RE/MAX team over the last 28 years and honored to have led the company for the last nine years,” said Kelly. “RE/MAX has grown into one of the largest real estate franchise networks in the world due to the perseverance and commitment of our brokers and agents, who are passionate about helping their clients achieve their real estate goals. I’m proud of our many accomplishments and I’m confident that Dave and the RE/MAX team will continue to grow our network, our business and our brand into the future.”
Liniger said, “We owe Margaret our deepest gratitude for the contributions she has made over the last three decades. Her leadership during her tenure as CEO allowed us to emerge from the recent financial crisis as a stronger company and led us through an initial public offering. Due to Margaret’s management, our business is performing exceptionally well and we’re positioned to take advantage of the opportunities that lie ahead.”
Commenting on the announcement Thursday, RISMedia President and CEO John Featherston said, “This is a bold decision by the RE/MAX Board of Directors to bring back Dave Liniger as CEO. The RE/MAX organization will miss Margaret Kelly who served in many different roles and capacities for 28 years, leading the company for the last nine. She did an admirable job in her tenure. Looking ahead, in these challenging times, the RE/MAX organizaiton will welcome the dynamic industrious leadership of Liniger back in the driver’s seat.”
The company also announced that the Board of Directors elected Karri Callahan as acting Chief Financial Officer, effective December 31, 2014; Kelly had been the acting Chief Financial Officer. As previously announced, Dave Metzger, the Company’s Chief Financial Officer, is on a temporary leave of absence due to the illness of a family member.
Richard Covey, Lead Director of the Board of Directors, said, “The Board would like to thank Margaret for her years of dedication, which helped make RE/MAX the industry leader it is today. Dave has a keen understanding of our markets and a proven record of growing our company profitably. The Board has the utmost confidence that he and the management team will continue our strong momentum and execution of our strategic plan without interruption. The continuity we have in this transition allows RE/MAX to proceed on its current path of profitable and sustainable growth.”
For more information visit http://www.remax.com/newsroom/press-releases/remax-holdings-announces-ceo-transition.htm. Stay tuned to RISMedia for further coverage of this breaking news.