Jesse Hill appointed Interim CFO of eXp World Holdings; Kent Cheng transitions to advisory role. Search for permanent CFO ongoing.
Quiver AI Summary
eXp World Holdings, Inc. announced that Jesse Hill, currently the VP of International Finance & Corporate FP&A at eXp Realty, will serve as the Interim Chief Financial Officer starting April 1, 2025. This change follows the planned transition of Kent Cheng, the current Principal Financial Officer, to an advisory role, remaining with the company until August 31, 2025, to aid in the transition. The company is actively searching for a permanent CFO among qualified candidates. Founder Glenn Sanford praised Hill's contributions to the company's growth and recognized Cheng's significant impact over the past five years. Hill expressed enthusiasm about his new role, emphasizing a commitment to optimizing investments for agents. The board remains confident in eXp's future growth and profitability as it navigates this leadership change.
Potential Positives
- Jesse Hill’s appointment as Interim Chief Financial Officer reflects a commitment to internal leadership continuity, leveraging his proven track record in driving revenue growth and enhancing operating margins.
- The planned transition of Kent Cheng to an advisory role ensures stability and support during the leadership change, minimizing disruption to the company's operations.
- eXp World Holdings highlights its confidence in ongoing growth and profitability, as indicated by the Board's positive outlook on the company's financial health and performance.
Potential Negatives
- The transition from Principal Financial Officer Kent Cheng to Interim Chief Financial Officer Jesse Hill may indicate instability in the company's financial leadership during a critical period.
- The ongoing search for a permanent CFO implies that eXp World Holdings may not have a fully aligned leadership team in place, which could impact decision-making and strategic execution.
- Despite the reassurance of no disagreements regarding financial statements, the leadership change could raise concerns among investors about the company's internal financial management and oversight.
FAQ
Who has been named Interim CFO of eXp World Holdings?
Jesse Hill, VP of International Finance & Corporate FP&A, has been appointed Interim Chief Financial Officer effective April 1, 2025.
What will Kent Cheng's role be after transitioning?
Kent Cheng will transition into an advisory role, remaining with the Company until August 31, 2025, to support the transition.
What are Jesse Hill's priorities as Interim CFO?
Jesse Hill aims to ensure agent-centric investments deliver high ROI and maintain efficient operations at scale.
What are eXp Realty's key offerings?
eXp Realty offers industry-leading commission splits, revenue share, equity ownership opportunities, and a global network for agents.
How many agents does eXp Realty have globally?
eXp Realty has nearly 83,000 agents across 25 international locations, making it the largest independent real estate brokerage.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EXPI Insider Trading Activity
$EXPI insiders have traded $EXPI stock on the open market 34 times in the past 6 months. Of those trades, 0 have been purchases and 34 have been sales.
Here’s a breakdown of recent trading of $EXPI stock by insiders over the last 6 months:
- GLENN DARREL SANFORD (CEO and Chairman of the Board) has made 0 purchases and 30 sales selling 949,751 shares for an estimated $12,189,186.
- RANDALL D MILES has made 0 purchases and 2 sales selling 30,475 shares for an estimated $460,466.
- JAMES BRAMBLE (Chief Legal Counsel) sold 25,000 shares for an estimated $351,352
- JIAN CHENG (Chief Accounting Officer) sold 18,750 shares for an estimated $258,879
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EXPI Hedge Fund Activity
We have seen 109 institutional investors add shares of $EXPI stock to their portfolio, and 134 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PACER ADVISORS, INC. added 5,279,455 shares (+inf%) to their portfolio in Q4 2024, for an estimated $60,766,527
- UBS GROUP AG added 1,026,775 shares (+6053.4%) to their portfolio in Q4 2024, for an estimated $11,818,180
- BANK OF AMERICA CORP /DE/ removed 798,011 shares (-56.4%) from their portfolio in Q4 2024, for an estimated $9,185,106
- INTEGRATED ADVISORS NETWORK LLC removed 564,938 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,502,436
- MERCER GLOBAL ADVISORS INC /ADV removed 557,505 shares (-97.7%) from their portfolio in Q4 2024, for an estimated $6,416,882
- MILLENNIUM MANAGEMENT LLC removed 499,397 shares (-55.6%) from their portfolio in Q4 2024, for an estimated $5,748,059
- CITADEL ADVISORS LLC removed 314,836 shares (-83.7%) from their portfolio in Q4 2024, for an estimated $3,623,762
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$EXPI Analyst Ratings
Wall Street analysts have issued reports on $EXPI in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Stephens issued a "Overweight" rating on 10/07/2024
To track analyst ratings and price targets for $EXPI, check out Quiver Quantitative's $EXPI forecast page.
Full Release
BELLINGHAM, Wash., March 17, 2025 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty ® , FrameVR.io and SUCCESS ® Enterprises, today announced that Jesse Hill, VP, International Finance & Corporate FP&A of, eXp Realty has been named Interim Chief Financial Officer of eXp World Holdings, Inc., effective April 1, 2025. It is anticipated that current Principal Financial Officer Kent Cheng will transition into an advisory role on March 31, 2025, and will remain at the Company until August 31, 2025 to support the transition. The Company and its Board of Directors continue to conduct an active search for a permanent Chief Financial Officer among highly qualified external and internal candidates.
“As VP, International Finance & Corporate FP&A, Jesse Hill has been an important part of our growth and expansion plans,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings, Inc. and eXp Realty. “Under Jesse’s financial leadership, International Realty has expanded into eight additional markets, increasing revenue nearly five-fold and significantly improving segment operating margins. Jesse has also been recognized as one of the most impactful finance executives in the mortgage and real estate industries, awarded a 2025 Finance Leader by HousingWire. I would also like to recognize Kent Cheng for the contributions he has made across eXp World Holdings, Inc.’s business segments over the last five years. We look forward to working closely with Kent in his strategic advisory role as we continue our search for a permanent CFO.”
“I am excited for the opportunity to serve as Interim Chief Financial Officer of eXp World Holdings beginning next month,” Jesse Hill said. "One of my top priorities as Interim CFO will be to ensure that our agent-centric investments deliver the highest ROI to our agent base as we remain focused on operating efficiently at scale. I am grateful for the trust placed in me by Glenn and the eXp Board, and I am honored by the opportunity to lead a high-performing finance organization at eXp, the most agent-centric real estate platform on the planet.”
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 Kent for his significant contributions to eXp, and to congratulate Jesse on his new role as Interim CFO. We are confident in eXp’s long-term outlook due to the platform’s leading scale, superior profitability, cash flow profile and highly talented team, and look forward to naming a permanent CFO to help lead eXp through its next phase of growth.” Cheng’s planned departure is not a result of any disagreement regarding eXp World Holdings, Inc.’s financial statements or disclosures.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) (the “Company”) is the holding company for eXp Realty ® and SUCCESS ® Enterprises . eXp Realty is the largest independent real estate brokerage in the world , with nearly 83,000 agents across 25 international locations . As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: expworldholdings.com
SUCCESS ® Enterprises, anchored by SUCCESS ® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit success.com .
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . These statements reflect the Company’s and its management’s current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding the search for a permanent CFO, impact of leadership changes on operational results, and the future profitability, expansion, and cash flows of the Company. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include the successful integration of new leadership, real estate market fluctuations, competitive pressures, and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. We do not undertake any obligation to update these statements except as required by law.
Media Relations Contact:
eXp World Holdings, Inc.
[email protected]
Investor Relations Contact:
Denise Garcia, Managing Partner
Hayflower Partners
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac97f739-fd31-446f-875d-0a8d64bf024b
