RE/MAX president and CEO Nick Bailey is out after the company suffered its sixth consecutive quarter of losses, the company announced.

Amy Lessinger was named as RE/MAX’s new president. She has been with RE/MAX since 1996, serving in various roles, most recently as senior vice president, region development.

Bailey was named RE/MAX’s chief customer officer in September 2019 before rising to president in June 2021 and president and CEO in January 2022, according to his LinkedIn page. He previously served as president and CEO at Century 21.

RE/MAX reported that its fourth-quarter earnings dropped 5.7% to $76.6 million. The company’s agent count dropped 0.6% to 144,835.

It did not give a reason for Bailey’s exit.