PARSIPPANY, N.J. (July 20, 2012) – Coldwell Banker Real Estate LLC today announced that effective Jan. 1, 2013, Budge Huskey (Mercer ’81), the company’s president and chief operating officer will be promoted to CEO and president, upon long-time CEO Jim Gillespie stepping down from his CEO role and assuming the responsibilities of chairman emeritus. The announcement was made during the Coldwell Banker Chairman’s Circle gathering of the brand’s top brokers earlier today.

Richard A. Smith, chairman, CEO and president of Realogy Corporation, said, “This clearly marks significant milestones for two remarkable careers. Budge Huskey’s proven record underscores his ability to lead and execute, and Jim Gillespie’s leadership of the Coldwell Banker franchise has been exemplary.”

“This transition speaks volumes about the leadership talent at Coldwell Banker,” said Alex Perriello, president and CEO of the Realogy Franchise Group.  “Budge is well prepared for this role with an extraordinary background in brokerage operations and brand stewardship, and Jim is a universally respected business leader who I have been privileged to have as a colleague for more than 25 years.”

Huskey was named president and chief operating officer of Coldwell Banker Real Estate LLC in June 2010, after spending the previous 12 years in executive positions within the Coldwell Banker operations of NRT LLC, a subsidiary of Realogy and the nation’s largest residential real estate brokerage company. While with NRT, he served as president and chief operating officer of Coldwell Banker Residential Real Estate in Florida and was later promoted to executive vice president of NRT’s Southern Region in 2007, overseeing the company’s Coldwell Banker operations in Florida, Dallas/Fort Worth and Atlanta markets.  Huskey began his real estate career in 1984 as an agent with family-owned Huskey Realty in the Orlando, Fla., area.

“It is an honor to be named CEO of this outstanding company, which I am proud and deeply humbled to lead,” said Huskey.  “After 36 years of dedication to Coldwell Banker, Jim’s appointment as chairman emeritus is well earned, and I look forward to his continued advice and counsel.”

Gillespie’s career has included roles in almost every facet of the real estate industry. He began as a sales associate in 1975 before moving into management the next year within a brokerage company that was acquired by Coldwell Banker Real Estate.  He then embarked on a series of positions of increasing responsibility within the Coldwell Banker system where he headed several local brokerage offices, companies as well as regional franchise operations. He also served as vice president of relocation services before moving to the Coldwell Banker Real Estate corporate office in 1997 with responsibility for broker services. Gillespie was named chief operating officer in 2001 before rising to the CEO role in 2004.  The University of Illinois graduate has played a critical role in the growth of the Coldwell Banker Real Estate franchise network for the past three decades.

“Not many people get the opportunity to spend almost their entire adult life working for one organization, and Coldwell Banker has been a great place to call home and build my career,” Gillespie said.  “Budge Huskey is the right person to move into this job, and I am confident that he will lead our brand to amazing new heights.”