Alex Perriello to Become Chairman Emeritus
Realogy Holdings Corp. has announced the promotion of John Peyton to the role of president and chief executive officer for the Realogy Franchise Group (RFG), effective April 1, 2017. Peyton will succeed Alex Perriello, long-time CEO of RFG, who will serve in a senior advisory capacity as chairman emeritus for RFG.
In his new role as president and CEO, Peyton will be responsible for managing RFG’s portfolio of national real estate franchise brands, including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby’s International Realty® as well as ZapLabs LLC, Realogy’s innovation and technology development hub. Peyton, who joined RFG as president and chief operating officer in October 2016, previously served for 17 years as a senior executive with Starwood Hotels & Resorts Worldwide Inc.
“I am committed to driving strategic new growth for the Realogy Franchise Group,” says Peyton. “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.”
“Given his extensive franchising experience and proven leadership, I believe John Peyton is ideally suited to take the helm at RFG,” says Perriello.
According to Realogy Chairman, Chief Executive Officer and President Richard A. Smith, Peyton has been working closely with Perriello for the past five months, and a “smooth leadership transition” is expected.
“John Peyton 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,” says Smith. “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.”
Smith also acknowledges Perriello’s “lasting mark” on the residential real estate industry. “We are deeply grateful to Alex for his visionary leadership and service to Realogy and our franchise brands for the past 34 years. Alex is a true gentleman, and a leader whose integrity and class is widely acknowledged in our industry. We look forward to Alex’s continued guidance in his new role as Chairman Emeritus for RFG.”
“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,” says Perriello. “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. Collectively, I will miss their professionalism and enthusiasm for finding new and creative ways to deliver exceptional service to their clients and consumers. I look forward to staying involved in a senior advisory capacity to help ensure RFG’s future success.”