President and CFO Marco Fregenal Appointed
CEO
Visionary Founder and CEO Joshua Harley to Remain as Founder and Chief
Evangelist, Primarily Supporting Agent Growth Initiatives
Independent Director Scott Flanders Named
Chair of the Board
CARY, N.C., Nov. 13, 2023 /PRNewswire/ -- Fathom Holdings
Inc. (Nasdaq: FTHM) ("Fathom" or the "Company"), a national,
technology-driven, end-to-end real estate services platform
integrating residential brokerage, mortgage, title, insurance, and
SaaS offerings for brokerages and agents, today announced a
leadership succession plan to support the Company's next chapter of
growth. Following a thoughtful succession planning process, with
Joshua Harley's endorsement,
Fathom's Board of Directors has appointed President and Chief
Financial Officer (CFO) Marco
Fregenal to the role of Chief Executive Officer (CEO),
succeeding Joshua Harley, who also
stepped down as Board Chair for family reasons.
As Fathom's largest shareholder, and as part of the planned
transition, Harley will remain active in the company as the Founder
and Chief Evangelist, with a focus on accelerating Fathom's agent
growth, being the voice of Fathom to the industry, and further
serving Fathom's growing agent network to improve agent retention,
agent referrals, and attach rate for Fathom's ancillary businesses.
Fregenal will continue to serve as CFO until the Board identifies a
replacement. A global search will commence after the new year for
the Company's next CFO.
Harley founded Fathom Holdings in 2010 as an innovative,
asset-light, technology-enabled business designed to endure all
market environments while empowering agents to realize their full
business and earning potential. During his tenure as Chair and CEO,
the Company experienced unprecedented growth in revenue and agents
while expanding nationwide and launching its ancillary businesses.
Harley has instilled the principles of servant leadership across
all the Company's brands and as a result, Fathom has received some
of the highest rankings and employee/agent satisfaction among all
real estate companies. In addition to serving as the Founder and
Chief Evangelist, Harley will provide his guidance and expertise to
the Company to ensure a smooth transition.
Fregenal has served as Fathom's CFO since 2012 and its President
since 2018. Previously, Fregenal served as the Company's Chief
Operating Officer (COO) from 2012 through 2017. He has served on
Fathom's Board since 2019 and is a proven leader with extensive
experience overseeing Fathom's operations. Under his leadership,
Fathom has diversified its market presence, delivered innovative
sustainable technologies, and completed multiple acquisitions,
which have collectively contributed to record results.
"It is my honor to announce that Marco Fregenal will be stepping
into the role of CEO to help lead Fathom going forward," said
Harley. "He has far more experience in growing established
businesses like ours has become and I am confident in his abilities
and thoughtful decision process. Marco is a respected and
accomplished leader, celebrated for his consistent track record of
achievements, as well as his unwavering dedication to Fathom's
mission, culture, and team. Marco's commitment to servant
leadership gives me confidence that our company will preserve the
foundational culture that has propelled it to greatness, all the
while steadfastly pursuing our growth strategy. Founding and
leading this remarkable company has been one of the most profound
privileges of my life. My transition to my new role underscores our
dedication to bolstering our agent growth initiatives. We remain
steadfast in our belief that there is a substantial opportunity
ahead of us to capture market share and position Fathom for
accelerated growth."
Fregenal commented: "I am honored to take the helm at Fathom at
this exciting time in the Company's evolution. My partnership with
Josh, dating back to 2012, has been a privilege, and I'm excited to
carry forward his legacy by further strengthening the substantial
progress we've made so far. I look forward to continuing to work
closely with Josh and our experienced senior leadership team and
employees to ensure the long-term success of the business."
Fathom also announced that it has appointed independent director
Scott Flanders as Chair of the Board
of Directors, succeeding Joshua
Harley. Flanders has served on the Company's Board since
August 2022. He has served on a number of Boards of
Directors, and in executive management positions of several
high-profile public companies. Most recently, Flanders was Chief
Executive Officer and a board member at eHealth, Inc., an online
marketplace for health insurance.
Flanders, added: "Today's announcement represents the
culmination of a thorough succession planning process, and we are
confident Marco's appointment ensures continuity of strategy,
leadership, and financial performance. Marco has the financial
acumen and operational expertise to guide Fathom forward and focus
on maximizing long-term stakeholder value creation. We are
confident Fathom will benefit from his leadership and vision. On
behalf of the entire Board, I also want to recognize and thank Josh
for his invaluable contributions to Fathom's growth. Josh has been
instrumental in growing Fathom's presence nationwide, and we're
deeply grateful for his leadership and guidance. We look forward to
his continued contributions as Founder and Chief Evangelist and
have left the door open for Josh to return to as CEO and Board
Chair, at some point in the future."
About Fathom Holdings Inc.
Fathom Holdings Inc. is a
national, technology-driven, real estate services platform
integrating residential brokerage, mortgage, title, insurance, and
SaaS offerings to brokerages and agents by leveraging its
proprietary cloud-based software, intelliAgent. The Company's
brands include Fathom Realty, Dagley Insurance, Encompass Lending,
intelliAgent, LiveBy, Real Results, and Verus Title. For more
information, visit www.FathomInc.com.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains "forward-looking
statements," including, but not limited to, the company's ability
to significantly bring more mortgage business to its loan officers.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including: reliance
on key personnel; risks related to acquisitions; risks related to
general economic and real estate industry conditions, including
interest rates and litigation; risks in effectively managing rapid
growth in our business; competitive risks; and the other risk
factors set forth from time to time in our SEC filings, copies of
which are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Investor Contact:
Alex Kovtun and Matt
Glover
Gateway Group, Inc.
949-574-3860
FTHM@gateway-grp.com
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SOURCE Fathom Realty