Remine CEO Frederick Townes Resigns After 7 Months

Frederick Townes, previously chief product officer for Prepared Schooling, joined Remine in April and got here to the corporate following struggles over a string of controversies and public stumbles.

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Seven months after he took the helm apparently with the mandate to regular a wobbling ship, Remine CEO Frederick Townes has resigned from the corporate, the true property software program platform confirmed to Inman Friday.

Frederick Townes

Remine confirmed Townes’ departure Wednesday in an e-mail, saying solely that he had resigned however not detailing the explanations for his departure. The e-mail added that David Borrillo, Remine’s chief expertise officer, will function interim CEO till a substitute is discovered.

“We thank Frederick for his management so far and need him one of the best in his future endeavors,” Remine’s e-mail added.

A request for remark despatched on to Townes’ Remine e-mail deal with Wednesday morning didn’t instantly elicit a response.

Remine gives modules that give Realtor associations and a number of itemizing companies (MLSs) entry to public information, search instruments and transaction administration, amongst different issues. The corporate’s buyer base is made up of near 60 trade organizations that collectively characterize 1.2 million actual property professionals.

Townes joined Remine in April. He arrived with a prolonged background in expertise, and instantly previous to Remine had served because the chief product officer for educational communications firm Prepared Schooling. Chatting with Inman in April, Townes described his then-new job main Remine as “a dream come true.”

Dream or not, although, Townes had his work lower out for him. After launching in 2015, Remine grew to become well-known over time for a sequence of high-profile stumbles. In 2020, for instance, an Inman investigation discovered what has been characterised as a poisonous work surroundings, with leaders on the firm variously utilizing express language and making references to medication, amongst different exploits. The corporate additionally went by a number of rounds of layoffs between 2019 and 2020. And Remine has confronted questions, and pulled options, over its use of MLS information.

Lastly final fall, a gaggle of MLSs fashioned an organization referred to as MLS Applied sciences Holdings LLC to amass Remine and exchange then-CEO Mark Schacknies. That transfer additionally prompted a seek for a brand new CEO, which finally led to Townes’ hiring.

In April, Inman requested Townes about stories of Remine’s previous work tradition and layoffs, and if his position was to reorient the corporate after a troubled chapter. Townes mentioned that having simply joined the corporate he couldn’t discuss previous points that occurred earlier than he took the CEO gig. However he added that in his hiring course of he didn’t see “any yellow or purple flags that made me involved.”

“Everybody that I’ve spoken to within the group is absolutely simply centered on turning the web page,” Townes instructed Inman in April. “I don’t see anyone actually centered on the previous to this point.”

E-mail Jim Dalrymple II

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