DENVER, Nov. 13,
2023 /PRNewswire/ -- RE/MAX Holdings, Inc. (the
"Company" or "RE/MAX Holdings") (NYSE: RMAX), parent company
of RE/MAX, one of the world's leading franchisors of real estate
brokerage services, and of Motto Mortgage, the first national
mortgage brokerage franchise brand in the U.S., today announced
that following a comprehensive search, the Company's Board of
Directors has appointed Erik Carlson
as Chief Executive Officer and a member of the RE/MAX Holdings
Board of Directors, effective today.
Mr. Carlson was most recently President and CEO of DISH Network
Corporation ("DISH"), a Fortune 200 connectivity company, where he
ran DISH's two largest businesses, DISH TV and SLING TV. In that
role, he oversaw the company's day-to-day operations, managing
over $15 billion in revenue, and was
instrumental in successful acquisitions, including that of Boost
Mobile. He also serves on the DISH Board. Mr. Carlson succeeds
Stephen Joyce, RE/MAX Holdings CEO,
who served on an interim basis. Mr. Joyce will remain on the
Company's Board of Directors.
RE/MAX Holdings Chairman of the Board and Co-Founder
Dave Liniger said: "Erik is the
ideal executive to take over as the new RE/MAX Holdings CEO, having
excelled in various operational, customer-centric and sales roles
at DISH. He is a strong, well-rounded leader with decades-long
experience overseeing large businesses and managing
high-performance teams in a disruptive industry, with a
self-described 'obsessive focus on the customer,' all of which
makes him uniquely qualified to lead RE/MAX Holdings through its
next phase of growth."
Mr. Liniger continued: "We thank Steve for his contributions as
our CEO and we look forward to his continued involvement as a
director on the RE/MAX Holdings Board."
Mr. Carlson commented: "I am excited to start this next chapter
in my career as CEO of RE/MAX Holdings, and I am honored to be part
of the all-time global leader in its industry, a company whose
entrepreneurial spirit I have long admired. Dave and Gail Liniger founded and have built an
enduring real estate institution with great brands and highly
productive networks that span the world. I look forward to joining
the RE/MAX Holdings team and applying my operational expertise as
well as my experience working with local businesses and serving
local communities to further extend the Company's
success."
During Mr. Carlson's tenure as President and CEO, DISH won
recognition for customer satisfaction for six consecutive years. He
also was a key driver behind the DISH Cares initiative, DISH's
corporate citizenship effort focused on "Our People, Our
Communities and Our Planet." Prior to becoming President and
CEO of DISH in 2017, Mr. Carlson held several other leadership
roles at the company, including President and Chief Operating
Officer, overseeing day-to-day operations and managing DISH's
In-Home services and customer service centers. Early in his career,
he led DISH's indirect sales operations. Mr. Carlson is a DISH
veteran of more than two decades, having joined the company in
1995 after graduating from Bradley
University. He is a Denver
resident and a member of the Downtown Denver Partnership
Board.
Notice of Issuance of Inducement Grants Under NYSE Rule
303A.08
The Company also announced awards of restricted stock units
("RSUs") to Mr. Carlson in connection with his appointment as the
Company's Chief Executive Officer.
The awards to Mr. Carlson consist of 287,364 time-based RSUs and
a target number of 290,323 performance-based RSUs. For the
time-based RSUs, 93,815 are scheduled to vest on November 13, 2024, and the remaining 193,549
time-based RSUs are scheduled to vest in three equal installments
on March 1, 2025, March 1, 2026, and March
1, 2027. The performance-based award vests based upon the
price of RE/MAX Holdings, Inc. stock between the grant date and
December 31, 2027, and the number of
shares that may be earned will vary between 0% and 200% of the
target number of performance-based RSUs.
The RSU awards were granted outside of the RE/MAX Holdings, Inc.
2023 Omnibus Incentive Plan (the "Plan") but will be governed as if
they were issued under the Plan. Vesting of the RSUs is subject to
the terms and conditions set forth in the applicable award
agreements and the Plan. The RSU awards were approved by the
Compensation Committee of the Board of Directors in reliance on the
employment inducement exemption under NYSE Listed Company Manual
Rule 303A.08, which requires public announcement of the
award.
About RE/MAX Holdings, Inc.
RE/MAX Holdings, Inc. (NYSE: RMAX) is one of the world's leading
franchisors in the real estate industry, franchising real estate
brokerages globally under the RE/MAX® brand, and
mortgage brokerages within the U.S. under the Motto®
Mortgage brand. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative,
entrepreneurial culture affording its agents and franchisees the
flexibility to operate their businesses with great independence.
Now with more than 140,000 agents in over 9,000 offices across more
than 110 countries and territories, nobody in the world sells more
real estate than RE/MAX, as measured by total residential
transaction sides. Dedicated to innovation and change in the real
estate industry, RE/MAX launched Motto Franchising, LLC, a
ground-breaking mortgage brokerage franchisor, in 2016. Motto
Mortgage has grown to over 225 offices across more than 40
states.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are often identified by the use of words such as
"believe," "intend," "expect," "estimate," "plan," "outlook,"
"project," "anticipate," "may," "will," "would" and other similar
words and expressions that predict or indicate future events or
trends that are not statements of historical matters.
Forward-looking statements include statements related to: the
Company's growth and success, the incoming CEO's leadership of the
Company, and Mr. Joyce's continued service on the Board of
Directors. Forward-looking statements should not be read as a
guarantee of future performance or results and will not necessarily
accurately indicate the times at which such performance or results
may be achieved. Forward-looking statements are based on
information available at the time those statements are made and/or
management's good faith belief as of that time with respect to
future events and are subject to risks and uncertainties that could
cause actual performance or results to differ materially from those
expressed in or suggested by the forward-looking statements. These
risks and uncertainties include, without limitation, (1) changes in
the real estate market or interest rates and availability of
financing, (2) changes in business and economic activity in
general, (3) the Company's ability to attract and retain quality
franchisees, (4) the Company's franchisees' ability to recruit and
retain real estate agents and mortgage loan originators, (5)
changes in laws and regulations, (6) the Company's ability to
enhance, market, and protect its brands, including the RE/MAX and
Motto Mortgage brands, (7) the Company's ability to implement its
technology initiatives, and (8) risks related to the Company's CEO
transition, (9) fluctuations in foreign currency exchange rates,
and (10) those risks and uncertainties described in the sections
entitled "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in the most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission ("SEC") and
similar disclosures in subsequent periodic and current reports
filed with the SEC, which are available on the investor relations
page of the Company's website at www.remaxholdings.com and on the
SEC website at www.sec.gov. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date on which they are made. Except as required by law, the
Company does not intend, and undertakes no obligation, to update
this information to reflect future events or
circumstances.
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SOURCE RE/MAX Holdings, Inc.