MADISON, NJ - (Marketwired - Aug 21, 2013) - Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services, today announced that Executive Vice President, Chief Financial Officer and Treasurer Anthony E. Hull has been named as a finalist in the 2013 NJBIZ CFO of the Year awards program in the category of Public Company with Revenues over $250 million. For full-year 2012, Realogy reported net revenue of $4.7 billion, a 14% year-over-year increase.
"This past year has been a momentous period for Realogy, and Tony has played a pivotal role in our success," said Realogy Chairman, Chief Executive Officer and President Richard A. Smith. "Through Tony's demonstrated financial acumen and business leadership, our company is on firm footing today, and we are well positioned to capitalize on the recovery in the housing market, which we believe is still in the early stages."
Hull, who has served as Realogy's CFO since 2006, helped lead a highly leveraged business through the depths of the housing downturn while proactively adjusting its financial structure through a series of strategic refinancing transactions. The culmination of these efforts during the past 12 months was Realogy's $1.2 billion initial public offering on the New York Stock Exchange in October 2012.
As a result of the IPO and related transactions, Realogy was able to reduce its outstanding indebtedness by $3.1 billion, or approximately 42%, at year-end 2012 compared to 2011. The Company also has decreased its annual cash interest expense by more than half -- from $672 million in 2012 to a $255 million annual run rate in 2013.
Prior to joining Realogy, Hull was executive vice president of finance for Cendant Corporation from 2003 to 2006, and served seven years as chief financial officer for DreamWorks LLC. Before DreamWorks, Hull held senior financial executive positions at Paramount Communications and worked as an investment banker at Morgan Stanley & Co., Inc. He received his bachelor's degree from Amherst College and his MBA in finance and accounting from Columbia University Graduate School of Business.
The 2013 NJBIZ CFO of the Year awards finalists will be recognized and the winner of each of seven categories will be announced during a breakfast awards ceremony on Oct. 29, 2013 at The Palace in Somerset Park in Somerset, N.J. The CFO of the Year award program, produced by NJBIZ, New Jersey's premier business news publication, is sponsored by WithumSmith+Brown, PC, Robert Half, JPMorgan Chase Bank, N.A., and Financial Executives International. Finalists were chosen by an independent panel of judges including: Paul Chase, Financial Executives International; Michael Mardy, Tumi Holdings; Denis C. Picard, Alvarez & Marshal Business Consulting, LLC; and Vinay Torani, Duff & Phelps, LLC.
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 241,700 independent sales associates doing business in 103 countries around the world. Realogy is headquartered in Madison, N.J.