Edward J. Noonan, most recently president and chief executive of Century 21 of Texas, was named president and chief executive of San Diego-based Red Carpet Corp. of America, one of the nation’s oldest real estate franchise operations with 500 franchise locations.
Noonan acknowledged that “bad management” has stalled franchising and said that he will spend time “curing some structural ills that exist. . . . We have to (adopt) some of the more successful real estate methods that were blueprinted by Century 21 and others,” he said.
He added that “there was never a sufficient system to service the franchise base.”
Noonan said he will also concentrate on enlarging Red Carpet’s franchise base to at least 1,000 locations nationwide.
The company now has franchises in 30 states, although most are clustered in California, Arizona, Texas, Oklahoma and Illinois.
Noonan replaced acting President Les Werling, an executive with San Diego-based Guild Mortgage, which acquired a controling interest in Red Carpet last year.
Werling returned to his duties with Guild.