Global Real Estate Industry Leader Brett White Appointed to Realogy Board of Directors
Former CEO of CBRE Group Becomes Realogy's Third Independent Director
PARSIPPANY, NJ - (Marketwire - Jan 28, 2013) - Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and relocation services, announced the appointment of Brett White to its Board of Directors, effective Jan. 24, 2013. Most recently, White was chief executive officer of CBRE Group, Inc., the world's leading commercial real estate services firm, from June 2005 until his retirement on Nov. 30, 2012. White also served as CBRE's president from September 2001 to March 2010. CBRE Group is a Fortune 500 and S&P 500 company listed on the New York Stock Exchange. Under White's leadership, the company's reported revenue increased from $2.9 billion in 2005 to $5.9 billion through fiscal year 2011.
"Brett brings nearly 30 years of experience in the commercial real estate sector, and he has served as chief executive officer of a Fortune 500 company, guiding that global organization through a period of significant growth during the past seven years," said Richard A. Smith, chairman, chief executive officer and president of Realogy Holdings Corp. "His wealth of operational experience on a global scale, financial acumen and in-depth knowledge of the real estate industry will be an asset to our Board, and we are pleased to have a world-class executive of his caliber join us as an independent director."
From the time of White's appointment as president in 2001 until his retirement, CBRE Group grew from 9,300 employees to approximately 34,000. CBRE went from a privately held company to a publicly traded firm listed on the New York Stock Exchange in 2004, and the company was named to the S&P 500 Index in 2006. In addition, White led three transformational acquisitions and integrations for the company during the past decade: Insignia/ESG (2003); Trammell Crow Company (2006); and ING REIM (2011).
White has been determined to be an independent director for purposes of the listing standards of the New York Stock Exchange. White becomes the third independent director on the Realogy Holdings Board, joining V. Ann Hailey and Michael J. Williams in that capacity. Realogy's Board now consists of eight members.
Prior to becoming CBRE's president, White was chairman of the Americas of CB Richard Ellis Services, Inc. from 1999 to 2001 and was its president of brokerage services from 1997 to 1999. Prior to that, White held various sales and management positions beginning in 1984. Currently, White serves as a member of the Board of Directors of Edison International and its wholly owned subsidiary, California Edison Company, a California public utility company, a position he has held since 2007.
White is a trustee of the University of San Francisco, and he has been involved in a number of civic and charitable organizations, including the Los Angeles Museum of Contemporary Art and Junior Achievement.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising with company-owned residential real estate brokerage operations doing business under its franchise systems as well as relocation and title services. Realogy's brands and business units include Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty®, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy's franchise system members operate approximately 13,500 offices with 239,500 independent sales associates doing business in 103 countries around the world. Realogy is headquartered in Parsippany, N.J.