Century 21 Real Estate today announced that President and CEO Tom Kunz has resigned, and that industry veteran Rick Davidson will replace him, effective immediately.

In June 2004, Kunz became CEO of Century 21, a subsidiary of the New Jersey-based Realogy.

Davidson was previously the COO of Coldwell Banker Real Estate — another Realogy brand — and president and COO of Coldwell Banker Commercial Affiliates.

“We thank Tom Kunz for his many years of service to the CENTURY 21 System, and we wish him well in the future,” said Alex Perriello, president of the Realogy Franchise Group, in a statement. “I am especially pleased that we were able to make this executive appointment from within Realogy, which speaks to the high level of managerial talent that exists across our organization.” [more]