DENVER - RE/MAX Holdings, Inc. (NYSE: RMAX), a global franchisor of real estate brokerage services, has announced significant changes to its senior leadership team. Amy Lessinger has been promoted to President of RE/MAX, LLC, succeeding Nick Bailey, who is departing the company. Abby Lee ascends to the role of Executive Vice President of Marketing, Communications, and Events, expanding her responsibilities within the company. Additionally, Susie Winders has been elevated to the position of Executive Vice President, General Counsel, Chief Compliance Officer, and Secretary.
The promotions recognize the executives' long-standing contributions to the company and are poised to further RE/MAX's strategic objectives. Lessinger, who joined RE/MAX in 1998, has served in various capacities, most recently as Senior Vice President of Region Development. She will now oversee the global RE/MAX brand and network. Lee, with the company since 1998 and a licensed broker since 2007, will continue to lead marketing efforts while also managing the company's events team. Winders, who joined RE/MAX in 2009 after a legal career with Jones Day, will continue to lead the company's legal and contracts departments.
Erik Carlson, CEO of RE/MAX Holdings, expressed confidence in the leadership team's ability to drive the company's focus on providing resources and services to broker/owners, agents, and loan originators. Dave Liniger, Chairman of the Company's Board and RE/MAX Co-Founder, praised the leadership qualities of the promoted executives, highlighting their roles in promoting the company's brands and supporting its networks.
RE/MAX Holdings operates under the RE/MAX brand for real estate brokerage franchises and the Motto Mortgage brand for mortgage brokerage franchises in the U.S. Founded in 1973, the company has grown to over 140,000 agents in more than 9,000 offices across over 110 countries and territories.
The press release also contained forward-looking statements regarding the expected benefits of the leadership changes and the company's competitive advantages. These statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
This news article is based on a press release statement from RE/MAX Holdings, Inc.
InvestingPro Insights
In the wake of RE/MAX Holdings, Inc.'s (NYSE: RMAX) recent leadership reshuffle, market data from InvestingPro provides a nuanced perspective on the company's financial health and market position. Despite the changes aimed at fortifying the company's strategic vision, RE/MAX Holdings has faced challenges reflected in its current market valuation and performance metrics.
InvestingPro data indicates a market capitalization of $274.09 million, suggesting a relatively modest size within the industry. The company's Price/Book ratio as of the last twelve months ending Q3 2023 stands at 0.66, which could be indicative of the market pricing the company's assets at a discount relative to their accounting value. In terms of profitability, RE/MAX Holdings has had a rough patch with a negative P/E ratio of -2.72, and an adjusted P/E ratio for the same period at -5.88, highlighting the company's recent earnings difficulties.
One of the InvestingPro Tips reveals that management has been aggressively buying back shares, which could signal confidence from the leadership in the company's future prospects. Another tip suggests that the company is trading at a low revenue valuation multiple, which could be appealing to value investors looking for potential upside if the company can turn around its performance.
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