M
atthew Cenedella will join the National Association of Realtors (NAR) as Chief Financial Officer on March 19, overseeing the organization's finances as it begins a four-year payout of $418 million in damages. This comes after NAR made its first payment of $202 million last month, part of a landmark settlement agreement.

    Cenedella brings over 14 years of experience in finance and operations to the role, most recently serving as Chief Operating Officer and Treasurer at the Women's Tennis Association (WTA). He oversaw significant revenue growth and helped launch WTA Ventures, the organization's commercial arm. NAR CEO Nykia Wright praised Cenedella's versatility and background in finance, strategic planning, and operational leadership.

    As NAR begins its payouts, the association has acknowledged that it will need to "streamline" its finances. NAR President Kevin Sears said last year that the association would scrutinize its budget to ensure it is meeting its financial obligations while delivering value to members. Cenedella expressed confidence in the association's future, citing his experience working across diverse financial landscapes.

    The $418 million payout will be made over four years, with annual payments of $72 million. Cenedella will replace John Pierpoint, who is retiring after 12 years with NAR. This is the second notable leadership change for NAR in recent weeks, following the addition of a new top lawyer.