Coldwell Chief Poulson Plans to Retire Soon

C. Wesley Poulson, longtime head of Los Angeles-based Coldwell Banker, one of the nation’s largest real estate brokerages, is retiring at the end of this month, it was announced Monday.

The 55-year-old Poulson has been chief executive of Coldwell Banker since 1973. He became chairman and chief executive of Coldwell Banker Real Estate Group in 1982 after Sears, Roebuck & Co. acquired the real estate brokerage as part its plan to establish a nationwide network of financial “supermarkets” for middle-class consumers.

Poulson said his decision reflects a longtime goal of retiring early enough so he can start a second career. He plans to form a private real estate investment company with two other former Coldwell Banker executives, Robert Draine and Daryl Lippincott.

“I don’t need any more money,” Poulson said in a phone interview. “I just need some time to better manage what I have now.”

Though no successor was named, Poulson said his replacement should be announced by Sears Chairman Edward R. Telling “within a couple of weeks.” He also said he plans to recommend to Telling that his replacement be someone from inside the company.

Any one of “several qualified people” could handle the job, he noted.

Poulson joined Coldwell Banker in 1960, became executive vice president in 1968 and was named president and chief operating officer in 1970. He was named president and chief executive in 1973 and chairman in 1978. He assumed his present post in January, 1982.