OREA CEO Luigi Favaro departs association after leave of absence

Luigi Favaro/OREA

Ontario Real Estate Association (OREA) CEO Luigi Favaro will not be returning to the association following a leave of absence that began in November, OREA confirmed in a member communication.

In an email sent to members Tuesday morning, OREA President-Elect Kim Fairley announced that the board has launched a formal CEO search with the assistance of an executive search firm, and expects to have a permanent replacement in place “as soon as possible.”

“We thank him for his contributions, and we wish him all the best in his future endeavours,” Fairley wrote.

A rapid leadership shake-up

Favaro’s departure marks the latest chapter in an unsettled period for OREA’s leadership. He was appointed CEO in July 2025 after 17 years with the association, most recently as VP of partnerships, and officially stepped into the role on Sept. 2. Less than three months later, in November, OREA board president Cathy Polan confirmed he had gone on a leave of absence, asking members to respect his privacy and refrain from contacting him directly.

At that time, Polan assumed acting CEO duties to maintain continuity. OREA has not disclosed the circumstances surrounding Favaro’s original leave or his departure.

New interim structure

With Favaro’s permanent departure now confirmed, the board has tapped Polan to formally assume the role of interim CEO, a step up from her acting capacity. To accept the appointment, Polan has stepped down as OREA president and ceased all trading activity.

Fairley, previously president-elect, assumes the full duties of president for the remainder of Polan’s term. Immediate Past President Rick Kedzior will remain in his current position.

“We recognize that there has been significant leadership change at OREA in recent months, and we understand this is not the ideal scenario,” Fairley acknowledged in her letter to members.

OREA declined Real Estate Magazine’s request for comment.