eXp World Holdings Initiates Chief Financial Officer Transition Plan

Current CFO Jeff Whiteside to remain at eXp World Holdings through Dec. 1, 2023

Chief Accounting Officer Kent Cheng to Serve as Principal Financial Officer

BELLINGHAM, Wash., Nov. 09, 2023 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, Virbela and SUCCESS Enterprises, today announced that Chief Financial Officer Jeff Whiteside is stepping down from his position and a search process has been initiated to identify his successor. Whiteside will remain with the Company through Dec. 1, 2023 to support the transition. The Company and its Board of Directors will work with an external search firm to identify its next CFO. In the interim, Kent Cheng, eXp World Holdings Chief Accounting Officer, will assume the role of Principal Financial Officer until a CFO has been named.

“I would like to thank Jeff for his contributions to eXp World Holdings,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings and eXp Realty. “Jeff’s financial expertise has helped evolve the company through periods of growth and change over the last five years. On behalf of the Board and our entire team, I thank him for his many contributions and wish him well in his future endeavors. I am pleased that Kent will assume the role of Principal Financial Officer. I have worked closely with him over the last three years and expect this transition to be seamless as we continue to execute our financial objectives and begin a search for our next CFO.”

“It has been a privilege to work alongside such a talented finance organization, executive team and impressive team of global agents as we collectively navigated the rapidly evolving market landscape,” Whiteside said. "I am thankful for the opportunity to contribute across eXp World Holdings over the past five years. I look forward to watching their continued success as they build upon their agent-centric innovation model.”

Randall Miles, member of the Board of Directors and Chairperson of the Audit Committee, said, “On behalf of the Board of Directors, I would like to thank Jeff for his contributions as CFO. We appreciate his expertise in building a strong finance team that will continue to lead through the transition period. As the leading innovator in the real estate industry, eXp World Holdings is well-positioned to continue its successful future-focused momentum.”