Realogy Announces Franchise Group Leadership Succession Plan
John Peyton Promoted to President and Chief Executive Officer of Realogy Franchise Group; Realogy Veteran Alex Perriello to Become Chairman Emeritus for Realogy Franchise Group
February 23, 2017 // Franchising.com // Madison, N.J. - Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today 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 Chief Executive Officer 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 leading real estate franchise brands, including the Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby’s International Realty® real estate brands 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.
Richard A. Smith, Realogy's Chairman, Chief Executive Officer and President, said: “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. 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. John has been working closely with Alex for the past five months, and we expect a smooth leadership transition.”
Smith continued: “Alex Perriello has made a lasting mark on the residential real estate industry and all those who know him. 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.”
John Peyton said: “I am committed to driving strategic new growth for the Realogy Franchise Group. 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.”
Alex Perriello said: “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. 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. Given his extensive franchising experience and proven leadership, I believe John Peyton is ideally suited to take the helm at RFG. I look forward to staying involved in a senior advisory capacity to help ensure RFG’s future success.”
About John Peyton
Peyton is a recognized global franchising and branding leader. He brings deep experience leading large, complex organizations and maximizing scale while enabling innovation and flexibility. During his nearly two decades with Starwood Hotels and Resorts Worldwide, most recently serving as Chief Marketing Officer, he leveraged his expertise in global operations and brand building to drive innovation and build loyalty for the company’s leading hotel brands, including St. Regis, W Hotels and Westin, among others.
Peyton also led Starwood’s Global Initiatives team, where he directed the implementation of key strategic company priorities around the world, including supply chain and revenue management initiatives. From 2003 to 2008, Peyton served as Chief Operating Officer of Starwood’s North America Hotel Division. In 2000, he led Starwood’s launch of Six Sigma – becoming the first company in the hospitality industry to adopt this methodology as a way of improving business processes and driving innovative change. Prior to joining Starwood, he had a 10-year career with PricewaterhouseCoopers, serving in both its accounting and management consulting practices.
Peyton holds an MBA in accounting and marketing from New York University and a bachelor’s degree in English from the University of Pennsylvania. Peyton is active in the community with several organizations supporting the health and welfare of children. He is a member of the board of directors for Child Advocates of Southern Connecticut and Full Court Peace, and also serves as a senior adviser to the A.J. Cina Foundation.
About Alex Perriello
Perriello has served as Chief Executive Officer of the Realogy Franchise Group since 2004, overseeing Realogy’s portfolio of leading franchise brands. With more than 35 years in the real estate industry, Perriello is widely recognized as an industry leader and a keen observer in the areas of policy and market trends. He has served the National Association of REALTORS® (NAR) as a member of the Executive Committee, chaired the NAR 2011 Strategic Planning Committee and has been a member of its Large Firm Advisory Council since 2005. In each of the past four years, Perriello has ranked among the top seven industry leaders in the Swanepoel 200, an annual list of the most powerful people in real estate. Previously, Perriello led Coldwell Banker Real Estate as its President and CEO from 1997 to 2004.
Perriello began his career as a sales associate and worked in almost every facet of the real estate business. After joining Coldwell Banker in 1983, Perriello held management positions in product development, real estate services, marketing and operations. Perriello played an integral role in the restructuring and development of Coldwell Banker following its 1996 acquisition and relocation from California to New Jersey by Realogy’s predecessor company.
With an eye toward the future of residential real estate, Perriello led the effort to create the Realogy FWD Innovation Summit in 2013. This annual event is designed to find and attract the best new technology products and services for Realogy’s affiliated franchise networks and company-owned residential real estate brokerages.
Perriello is a frequent speaker and panelist at major real estate industry events, as well as conferences hosted by diverse organizations including the National Association of Hispanic Real Estate Professionals (NAHREP) and the Asian Real Estate Association of America (AREAA). In 2014, he was named the AREAA Person of the Year for his commitment to the organization's goals of sustainable homeownership for the Asian American community. In 2015, Perriello was named to the Easter Seals Foundation Board of Trustees.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty® and ZipRealty®. Collectively, Realogy's franchise system members operate approximately 13,650 offices with more than 268,000 independent sales associates conducting business in 111 countries and territories around the world. NRT LLC, Realogy’s company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy’s brands and also provides related residential real estate services. Realogy also owns Cartus, a prominent worldwide provider of relocation services to corporate and affinity clients, Title Resource Group (TRG), a leading provider of title, settlement and underwriting services and ZapLabsSM, its innovation and technology development subsidiary. Realogy is headquartered in Madison, New Jersey.
SOURCE Realogy Holdings Corp.
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