Marc King has stepped down from his role as President of Keller Williams, effective immediately. In an e-mail to the company’s agents, King said it was time to focus on his family and personal life, which suffered as he helped guide KW over the past three years.
The news comes as the brokerage also announced the layoff of 30 people, confirmed by CEO Mark Willis. Willis, of course, joined the KW team as CEO just a few months ago. He will now hold the title of CEO & President.
“As for the layoffs that occurred at KWRI, we wish all these people the very best and are massively grateful for their contributions,” an e-mail from Willis read. The reduction in force of approximately 30 people at KWRI reflects the direction to get back to our core strengths and advantages (coaching, training, and proprietary technology).”
The news comes just weeks after KW announced it had reached a settlement in the class-action Sitzer-Burnett case and the Moehrl commission cases. The brokerage has agreed to pay $70 million and change business practices moving forward.