Realogy Appoints Raul Alvarez to Its Board of Directors
Former President and Chief Operating Officer of McDonald's Corporation Elected as Independent Board Member
MADISON, NJ - (Marketwired - Aug 26, 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 the appointment of Raul Alvarez to its board of directors.
Alvarez spent 15 years in executive leadership positions with franchise leader McDonald's Corporation (NYSE: MCD), culminating with his appointment as president and chief operating officer from August 2006 until his retirement in December 2009. Prior to joining McDonald's, he held executive positions with Wendy's International, Inc. (1990-1994), and the Burger King Corporation (1977-1989). Currently, Alvarez is executive chairman of Skylark Co., Ltd., a leading restaurant operator in Japan, a position he has held since January 2013. He also serves on the board of directors of Eli Lilly and Company (NYSE: LLY), Lowe's Companies, Inc. (NYSE: LOW) and Dunkin' Brands Group, Inc. (NASDAQ: DNKN).
With Alvarez's appointment, Realogy's board is now comprised of eight directors, six of whom, or 75%, are independent directors for purposes of the listing standards of the New York Stock Exchange.
"With more than 30 years in the retail industry, Raul brings extensive executive leadership experience in managing leading global consumer brands and company-owned and franchised operations," said Richard A. Smith, Realogy's chairman, chief executive officer and president. "Additionally, his in-depth knowledge of international operations, emerging markets, consumer marketing, strategic planning and boardroom experience will add tremendous value to our Board."
Prior to becoming president and chief operating officer of McDonald's Corporation, Alvarez served as president of McDonald's North America from January 2005 to August 2006, with responsibility for all of the McDonald's restaurants in the United States and Canada. Before that, he was president of McDonald's USA from July 2004 to January 2005. Alvarez joined McDonald's in 1994 and held a variety of leadership roles including chief operations officer and president of the central division, both with McDonald's USA, and president of McDonald's Mexico.
A graduate of the University of Miami where he earned a bachelor of business administration degree, Alvarez currently serves on that institution's President's Council, International Advisory Board and the School of Business Administration's Board of Overseers. Previously, Alvarez was a member of the board of directors of McDonald's Corporation and Keycorp until 2009, and also was a member of the board of the National Retail Federation Inc., the world's largest retail trade organization, until 2010.
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 241,700 independent sales associates doing business in 103 countries around the world. Realogy is headquartered in Madison, N.J.