Cendant has made several leadership changes within its real estate franchise group, part of the real estate services division. Bob Moles will step down in his role as president and CEO, and Alex Perriello, who served as president and CEO of Coldwell Banker Real Estate Corp. since 1997, will succeed him as head of the real estate franchise group.

In addition, Jim Gillespie, previously COO of the real estate franchise group, was promoted to president and COO of Coldwell Banker. George Slusser was promoted to president and COO of Coldwell Banker Commercial. He previously served as president.

"The structural change creates the opportunity for us to continue to grow our commercial real estate presence while giving the Coldwell Banker Commercial brand a better, more targeted focus," Smith said in a statement.

Coldwell Banker Commercial, which was operated as part of Coldwell Banker Real Estate Corp., will now be broken out as a separate operating unit within the franchise group.