RE/MAX CEO retires

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Highlights:

  • Margaret Kelly, RE/MAX CEO retires.
  • Retirement is effective Dec. 31.
  • Chairman Dave Liniger replaces her.
Margaret Kelly, CEO of RE/MAX, is retiring.

Margaret Kelly, CEO of RE/MAX, is retiring.

Margaret Kelly, the CEO of RE/MAX, is retiring, the Denver-based company announced today.

Dave Liniger, chairman and co-founder of the RE/MAX Holdings Inc., the giant real estate franchise company, was named CEO by the company’s board.

The changes are effective Dec. 31.

“I’m grateful to have had the opportunity to be a part of the RE/MAX team over the last 28 years and honored to have led the company for the last nine years,” Kelly said.

“RE/MAX has grown into one of the largest real estate franchise networks in the world due to the perseverance and commitment of our brokers and agents, who are passionate about helping their clients achieve their real estate goals,” Kelly continued.

“I’m proud of our many accomplishments and I’m confident that Dave and the RE/MAX team will continue to grow our network, our business and our brand into the future,” she said.

Liniger praised Kelly for her contributions to RE/MAX.

“We owe Margaret our deepest gratitude for the contributions she has made over the last three decade,” Liniger said

“Her leadership during her tenure as CEO allowed us to emerge from the recent financial crisis as a stronger company and led us through an initial public offering.” he continued.

“Due to Margaret’s management, our business is performing exceptionally well and we’re positioned to take advantage of the opportunities that lie ahead,” Liniger added.

Richard Covey, Lead Director for RE/MAX’s board, had this to say:

“The board would like to thank Margaret for her years of dedication, which helped make RE/MAX the industry leader it is today. Dave has a keen understanding of our markets and a proven record of growing our company profitably. The board has the utmost confidence that he and the management team will continue our strong momentum and execution of our strategic plan without interruption. The continuity we have in this transition allows RE/MAX to proceed on its current path of profitable and sustainable growth.”

RE/MAX’s stock, which is traded on the New York Stock Exchange under the symbol RMAX, closed today at $36.82, up 1.13 percent from Wednesday. Kelly’s retirement was announced after the market closed.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee Co. and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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