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EXp World Holdings Chief Financial Officer Jeff Whiteside will be departing his role, according to an announcement the firm made last week.
Whiteside, who has been with the company for five years, will remain on board until Dec. 1 to aid with the search for and transition to a new CFO, according to the announcement. Kent Cheng, eXp’s chief accounting officer has been named principal financial officer until the CFO role is filled.
“It has been a privilege to work alongside such a talented finance organization, executive team and impressive team of global agents as we collectively navigated the rapidly evolving market landscape,” Whiteside said. “I am thankful for the opportunity to contribute across eXp World Holdings over the past five years. I look forward to watching their continued success as they build upon their agent-centric innovation model.”
Whiteside served in a dual role as chief financial officer and chief collaboration officer with eXp, where he was responsible for overseeing finance, business development, mergers and acquisitions, new ventures, international markets and investor relations.
Whiteside’s planned departure is “not a result of any disagreement regarding the company’s financial statements or disclosures,” the company noted in its announcement.
“Jeff’s financial expertise has helped evolve the company through periods of growth and change over the last five years,” eXp World Holdings CEO Glenn Sanford said in a statement. “On behalf of the Board and our entire team, I thank him for his many contributions and wish him well in his future endeavors.”
Despite a sluggish real estate market, eXp posted strong financial results for the third quarter of 2022, generating $1.214 billion in revenue during the quarter — down 2 percent from $1.238 billion one year ag0, and posting a profit of $1.3 million, down from $4.4 million over the same period last year, a 69 percent decrease.
