BTIG says Re/Max CEO’s track-record difficult for investors to get excited about

After Re/Max Holdings (RMAX) announced that Erik Carlson will take over as CEO, BTIG noted that this change has been in the works for a few months now and is “not being driven by any of the recent headlines the company has faced.” However, Carlson comes from the DISH Network (DISH), whose share are down 75% year-to-date, so the firm thinks this “could be a difficult track-record for investors to get excited about.” The firm, which also says it was surprised that current Re/Max President Nick Bailey was not given the role, doesn’t think Carlson is being brought in to catalyze a sale or take-private transaction, but has received that question from investors. The firm has a Neutral rating on Re/Max shares.