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The Real Estate Institute of Queensland (REIQ) has appointed an acting chief executive as part of a management reshuffle that's included the departure of former CEO Anton Kardash.
The REIQ board released a statement yesterday announcing that Antonia Mercorella had been installed as the organisation's acting CEO following the exit of Mr Kardash, who had held the position since January 2012.
REIQ chairman Rob Honeycombe said Ms Mercorella would fill the vacancy for the “foreseeable future”, while the board considered its options for a permanent CEO.
Although the statement does not include details of the reasons behind Mr Kardash's sudden departure, an email obtained by Real Estate Business sent out solely to REIQ members outlines the factors behind his leaving.
Mr Honeycombe's member announcement, which also revealed that COO Steve Lines had left the organisation, stated that the changes had been “prompted by a number of factors and events relating to the operation of the Institute and the management of its personnel".
The announcement added that the REIQ board is anticipating a significant financial loss for the 2013/2014 year, stating that, "While economic factors mean this is not entirely the responsibility of senior management, it would be remiss of the board to fail to act in the face of such a disappointing result. This is the reason we have moved to appoint an acting CEO for the organisation."
"We will no doubt confront a range of challenges in coming months, but the board will work closely with Antonia to ensure we continue to be a strong voice for you and for the entire industry. We firmly believe these changes are in the best interests of the Institute, its members and its staff,” Mr Honeycombe said.
When contacted by Real Estate Business, an REIQ spokesperson said the Institute would not be commenting any further on the matter, while Mr Kardash said the board had indicated it wanted a change in direction and that he was now pursuing other opportunities.
- <p>I heard that first board meeting after the whole issue blew up was a bloodbath !!! I have no doubt he sold them on a fantastic looking spreadsheet but none of them stopped to think just how this would be treated by the membership. Thankfully there are two new "old" board members who recently got elected who have been past presidents - Mark Brimble and Ray Milton. No doubt they have assisted in the cleanup. REIQ has significant cash holdings built up in previous years which in the past year or two have been spent faster than a 16 year old teenager with a new shiny credit card.</p>0
- <p>You called it! from the very second that payment scheme was announced Glenn - and here it is - coming true as usual - you are on the ball. However equally concerning is the fact that an entire board let this through in the first place. Perhaps Anton was very convincing?</p>0
- <p>Lets face it, Anton Kardash was responsible for the introduction of the pay per listing model which seen members leave their website in droves and left the membership frustrated with the institute. He rolled this out hiding the announcement that would commit members to hundreds and sometimes thousands of dollars in one line in the fourth paragraph of a covering letter so most members first new about this when massive invoices arrivedin the mail. He had to go and I am amazed it took them this long.</p>0
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