Kamini Lane, the president of Sotheby’s International Realty, has been tapped to oversee Coldwell Banker Realty as president and CEO, a spokesperson for parent company Anywhere Real Estate told The Real Deal.
Lane’s promotion was announced Monday during a company-wide town hall, according to a source familiar with the matter. Her appointment comes a little over three months after Ryan Gorman, former CEO of Coldwell Banker, which includes both Coldwell Banker Realty and its brand affiliates, was let go. Both Sotheby’s and Coldwell Banker are subsidiaries of Anywhere.
Like other residential brokerages, Anywhere has struggled with a cooling market since the Federal Reserve began raising interest rates last spring. That led the firm to adopt cost-cutting measures, including taking a hard look at its C-suite. In December, it let go of Gorman, who made $3.5 million annually, according to SEC filings. Sue Yannaccone, then Anywhere Brands President and CEO, was promoted to oversee Coldwell Banker as well. Her title is now president and CEO of Anywhere Brands and Anywhere Advisors.
Gorman’s departure allowed Anywhere to consolidate its owned brokerage and franchise businesses under the supervision of a single executive. Lane will report to Yannaccone in her new position.
Liz Gehringer, one of Gorman’s top lieutenants during his tenure at Coldwell Banker and president of Coldwell Banker Affiliates, was also promoted today. She now also oversees Better Homes and Gardens Real Estate, Century 21, and ERA Real Estate, as president and CEO of Anywhere Franchise Brands.
Lane ran the western region for Compass from November 2020 to September 2021, before getting into venture capital. She joined Sotheby’s last year.