RE/MAX co-founder Dave Liniger has stepped down as CEO of the franchise giant. RE/MAX began its leadership succession plan last May, when the company named Adam Contos as co-CEO with Liniger.
“The Board of Directors is pleased that Adam will lead RE/MAX Holdings in its next stage of growth,” says Richard Covey, the board’s lead director. “He is a talented and respected RE/MAX Holdings executive who combines in-depth knowledge of the industry with an equally strong desire to drive RE/MAX forward and build on its success by leveraging technology and focusing on innovation.”
Adam Contos, RE/MAX CEO
Photo Courtesy of RE/MAX |
Contos served as COO of RE/MAX Holdings prior to being named as co-CEO in May 2017. He joined the company in 2004. He worked with franchisees and agents in the Mountain States region and was promoted to region vice president the following year. He has served as region vice president for RE/MAX from coast to coast and as a senior vice president of marketing.
“I am honored to lead RE/MAX Holdings at this important time in our history,” Contos says. “As we head into this next chapter, I am excited about the prospects for continuing our successful momentum, driven by our outstanding business model, brand strength, competitive advantages, and the most dynamic brokers and agents in the industry.”
Liniger will now become a non-executive chairman on the RE/MAX Holdings Board.
Liniger has a long role at RE/MAX. He co-founded the global real estate franchise with his wife, Gail, in 1973. He has been a steadfast advocate of advanced training and education within the real estate industry. He has served as CEO of the company since the 2014 retirement of Margaret Kelly, who had been appointed to the position in 2005.
RE/MAX boasts a global network of more than 115,000 agents. More than a year ago, it launched Motto Mortgage, a mortgage-origination franchise.
Liniger and Contos have been the subject of an ongoing internal investigation at RE/MAX since last fall, stemming from an undisclosed $2.38 million loan that Liniger provided to Contos. The investigation came to light in November when the real estate company announced that
its financial report for the third quarter was being held indefinitely while it completed the investigation. Liniger reportedly provided Contos with the loan so that he could purchase a residence at a below-market interest rate. The investigation is being conducted by a special committee appointed by the board of directors. The company asserts that no company funds were used or involved in any of the transactions.
Source: RE/MAX
