Realogy Holdings Corp., a residential real estate services company, named a new CEO over its Realogy Franchise Group, promoting John Peyton (pictured below) to the role, effective April 1, 2017. Peyton currently serves as president and chief operating officer for RFG.

Peyton will succeed Alex Perriello, longtime CEO of RFG, who will instead serve in a senior advisory capacity as chairman emeritus for the group.

In his new role, Peyton will be responsible for managing RFG's portfolio of real estate franchise brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby's International Realty real estate brands as well as ZapLabs, Realogy's innovation and technology development hub.

Peyton joined RFG as president and COO in October 2016, previously serving for 17 years as a senior executive with Starwood Hotels & Resorts Worldwide.

"John Peyton has brought a fresh perspective to our company from his tenure as a global branding leader in the hospitality industry, and I am confident in his ability to continue leveraging his valuable insight on behalf of our leading real estate brands,” said Richard Smith, Realogy's chairman, CEO and president.

“John has been working closely with Alex for the past five months, and we expect a smooth leadership transition," he said.