Digital Transformation Executive Adolfo Villagomez Joins Progress Residential as CEO

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Former Home Depot Executive to Lead Pretium Platform's Next Phase of Growth

SCOTTSDALE, Ariz., May 17, 2022 /PRNewswire/ -- Progress Residential, the leading single-family rental management services platform, today announced that it has named Adolfo Villagomez as Chief Executive Officer, effective May 23, 2022.

Mr. Villagomez brings more than two decades of experience leading consumer-facing businesses and delivering profitable growth in digital and traditional domains. Most recently, Mr. Villagomez served as President of homedepot.com and Chief Marketing Officer for U.S. Retail at The Home Depot. During the pandemic, Mr. Villagomez's customer-focused business strategy led to double-digit growth in sales and revenue for the home retailer. Prior to joining The Home Depot, Mr. Villagomez was a partner at McKinsey and Company, where he led its North America Marketing and Sales Practice.

"Pretium's leadership position enables us to attract phenomenal talent like Adolfo," said Don Mullen, CEO of Pretium and Founder of Progress Residential. "As Progress Residential enters its next phase of innovation, I am thrilled to welcome Adolfo as CEO."

"Adolfo's data-driven approach to business strategy, combined with his supply chain and product expertise, will accelerate Progress Residential's leadership in smart home adoption, movement to net zero, and the overall digital transformation of real estate," continued Mr. Mullen.

"Now, more than ever, companies have the opportunity to leverage technology in ways that significantly improve the customer experience while also driving growth," said Mr. Villagomez. "Progress Residential is an unmatched pioneer in the single-family rental industry, and I look forward to joining this exceptionally talented team as we deliver technology-enabled, scalable solutions that make the rental experience for our residents even better."

Mr. Villagomez began his career at DuPont, in its Teflon and Fluoroproducts businesses. He holds a master's degree in Business Administration from the Yale School of Management, and a bachelor's degree in Chemical Engineering from the Universidad Nacional Autónoma de México (National Autonomous University of Mexico).

About Progress Residential

Progress Residential, Pretium's single-family rental platform, is a market leader in intelligent single-family rental management services, with people, technology, scale, and data-driven solutions that streamline operations, optimize asset performance, and provide an exceptional renting and living experience for our residents. Progress Residential's approximately 2,500 employees currently manage more than 80,000 homes across 30 markets. Progress Residential also offers third-party property management service for investors with mid-to-large single-family rental home portfolios and Built for Rent communities through its Progress Residential Management Services. Progress Residential was founded by Don Mullen in 2012. For more information, please visit www.rentprogress.com.

About Pretium

Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium's platform has more than $40 billion of assets and employs approximately 4,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

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SOURCE Progress Residential