Philip A. White, Jr., to be Promoted as CEO of Sotheby's International Realty Affiliates LLC, Effective Feb. 1, 2013
CEO Michael R. Good to Step Down and Serve as Chairman Emeritus
PARSIPPANY, N.J. 12-03-2012 —
Sotheby's International Realty Affiliates LLC today announced the promotion of Philip A. White, Jr., to chief executive officer of the Sotheby's International Realty® brand, effective Feb. 1, 2013. At that time, Michael R. Good, the brand's long-time chief executive officer, will step down and assume the role of chairman emeritus.
White, a 32-year industry veteran, currently serves as president and chief operating officer. He was promoted to this role in April 2010, after having served as chief operating officer for the previous six years.
"Philip has a vast level of experience in the real estate industry and with the Sotheby's International Realty brand, having served it in both management capacities and as a broker and owner," said Richard A. Smith, chairman and chief executive officer of Realogy Corporation, the parent company of Sotheby's International Realty Affiliates. "As a testament to his operational leadership and commitment to serving the brand's network with the highest level of quality, Sotheby's International Realty has won Franchise Business Review's Best in Category for Real Estate Franchisee Satisfaction award for the last five years."
Since joining the Sotheby's International Realty brand in 2004, White's strategic efforts have been instrumental in helping member brokerages significantly grow their transaction volume and establish leading market share positions in key luxury markets both domestically and internationally.
"I am honored to be appointed to this role and look forward to continuing to build this extraordinary network that Mike and our team have built, and I am humbled by the opportunity to continue to serve our exceptional affiliates and sale agents on a global basis," said White. "I look forward to expanding our servicing platform internationally and continuing to grow this brand in the world's finest markets."
Good, whose real estate career spans 36 years, has served as chief executive officer since February 2004, when Realogy entered into a 100-year licensing agreement with the Sotheby's Auction House for the Sotheby's International Realty brand.
"During Mike's tenure, more than 200 quality real estate firms with more than 620 offices have joined this outstanding brand," said Alex Perriello, president and chief executive officer, Realogy Franchise Group. "Thanks to his leadership, this brand is the global force in luxury real estate that it is today. I thank Mike for his many years of dedicated service and am pleased that he will continue to serve this fine brand as chairman emeritus."
According to Good, the right team is in place to take the Sotheby's International Realty brand to new levels of success. "I am proud to hand the leadership reigns to Philip as he has been a great partner in our success," he said. "I am grateful to have had the privilege of leading the development of the quintessential luxury real estate franchise in the world. The working relationship and support of the Sotheby's Auction House has been exceptional, and I am most proud of the quality firms that truly value their association with our brand. Working with our brokers and my talented and passionate team has been the highlight of my 36-year career in this industry."
The Sotheby's International Realty network currently has more than 12,600 sales associates located in approximately 650 offices in 45 countries and territories worldwide.
About Sotheby's International Realty Affiliates LLC Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Jennifer Zimmerman Director, Public Relations and Communications Sotheby's International Realty Affiliates LLC 1 Campus Drive Parsippany, NJ 07054 (973) 407-6375 Jennifer.Zimmerman@sothebysrealty.com