Chuck M. Fallon Named CEO of FirstService Residential
Respected Fortune 500 Executive to Lead North America’s Largest Residential Property Management Company
TORONTO, CANADA and DANIA BEACH, FLORIDA, March 25, 2013 – FirstService Corporation (NASDAQ: FSRV; TSX: FSV) announced today that Chuck M. Fallon has been named chief executive officer of FirstService Residential, a subsidiary of FirstService Corporation, and largest manager of residential communities in North America. Fallon succeeds Gene Gomberg, who will remain with the Company as Chairman.
“We are very excited to have Chuck join us and confident that he is the right person to lead our market-leading residential property management operations through its next phase of growth,” said D. Scott Patterson, President & COO of FirstService Corporation. “He brings an impressive track record of experience with globally recognized Fortune 500 companies in highly competitive service businesses and has a genuine commitment to delivering exceptional customer service.”
Patterson added that Fallon’s extensive background in strategy, operations and sales and marketing in large-scale organizations with well-known brands will serve him well at FirstService Residential. As CEO, he will be responsible for overall growth and guiding FirstService Residential’s 12,000 employees that serve a client portfolio of 6,500 properties and 1.4 million residential units in key markets throughout North America.
“FirstService Residential has built its success on a platform of service excellence and thoughtful, value-added client solutions that has resulted in client retention rates that are truly exceptional,” said Fallon. “I’m looking forward to joining the FSR team and continuing to improve the value of every client property and the lifestyle of each resident we serve.”
Fallon most recently served as President of Terminix International, the largest pest control company in the United States. Previously he was President, North America for Burger King Holdings, Inc. from 2006 to 2010. Prior to 2006, Fallon spent eight years in various roles at Cendant Corporation, a global travel and real estate company whose brands included Avis, Budget, Ramada, Days Inn, Century 21 and Coldwell Banker.
FirstService Corporation is a global leader in the rapidly growing real estate services sector. As one of the largest property managers in the world, FirstService manages more than 2.3 billion square feet of residential and commercial properties through its three industry-leading service platforms: Colliers International, one of the top global players in commercial real estate; FirstService Residential, the largest manager of residential communities in North America; and Property Services, a leading North American provider of essential property services delivered through company-owned operations, franchise systems and contractor networks.
FirstService generates over US$2.3 billion in annual revenues and has more than 23,000 employees worldwide. More information about FirstService is available at www.firstservice.com.
Certain statements included in this release contain words such as “could”, “expects”, “expectations”, “may”, “anticipates”, “believes”, “intends”, “estimates” and “plans” (and similar expressions) and constitute “forward-looking statements” within the meaning of applicable securities law. These statements are based on FirstService’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which FirstService and its subsidiaries operate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which are difficult to predict and may cause the actual results, performance or achievements of FirstService, or outcomes or results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions which will, among other things, impact demand for the FirstService’s services, service industry conditions and capacity and the cost of providing services; the ability of FirstService to implement its business strategy, including FirstService’s ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations (especially safety and environmental laws and regulations); and other factors which are described in FirstService’s filings with the U.S. Securities and Exchange Commission and Canadian regulatory authorities. These statements, although considered reasonable by FirstService at the date of this press release, may prove to be inaccurate and consequently FirstService’s actual results could differ materially from its expectations as set out or implied in this release. Unless otherwise required by applicable securities laws, FirstService disclaims any intention or obligation to update or revise any forward-looking statements.