Johnny Hanna, CEO and co-founder of Homie, reveals photo voltaic lights that include Homie actual property indicators on the firm’s headquarters in Draper in 2017. Through the Silicon Slopes Summit final Friday Hanna introduced that he could be stepping down as CEO of the corporate.
Kristin Murphy, Deseret Information
Johnny Hanna of Utah-based actual property firm Homie introduced throughout the Silicon Slopes Summit final Friday that he could be stepping down as CEO of the corporate.
His announcement to step down adopted per week wherein 40 workers at Homie have been laid off, in line with a press release from the corporate.
"As the true property market continues to shift, Homie was compelled to guage the present enterprise construction and let go 40 crew members final week," the assertion stated.
Joe Grover, former chief advertising and marketing officer and present adviser for Homie, stated the layoffs are "in between 15 and 20" p.c of Homie's workforce.
In February, Homie introduced that it will be shedding 119 workers, lowering its workforce by some 28% amid unprecedented circumstances for homebuyers and sellers in Utah and across the nation.
As of Monday, Mike Peregrina, who co-founded Homie with Hanna and presently serves as the corporate's president, would be the new CEO of the corporate.
"Though the (actual property) market goes via a cycle, I am excited to step into the CEO position at Homie. We now have an extremely gifted and dedicated crew. I am wanting ahead to persevering with my work with Johnny as chairman in our mission to deliver fairness and alter to actual property," Peregrina instructed KSL.com Tuesday.
Grover stated Peregrina and Hanna labored carefully collectively within the day-to-day operations of the corporate and he expects the transition to be "fairly seamless from a administration standpoint."
"They've all the time labored collectively as a crew — form of two in a field — working, you already know, to function the enterprise and handle all elements," Grover stated. "Mike is in a terrific place to steer the corporate. ... Proper now's a tough time in actual property and as we actually have a look at effectivity and driving the enterprise all the way in which to profitability, it is sensible to have a extra, form of, targeted and nimble govt crew."
Grover famous that Homie remains to be working in all 5 of the markets — Arizona, Colorado, Idaho, Nevada and Utah — that it was previous to the management change.
"We're nonetheless the biggest itemizing dealer within the state of Utah and we proceed to function right here," Grover stated.
Hanna will proceed serving because the chairman of Homie's board of administrators, which nonetheless constitutes a "fairly energetic position in shifting the corporate ahead," Grover famous.