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CBRE Group, Inc. (NYSE:CBRE) has announced new executive leadership responsibilities aimed at enhancing growth and operational efficiency. Danny Queenan has been appointed CEO of Real Estate Investments, while Mike Lafitte focuses on Trammell Crow Company. Jack Durburg takes on CEO of Advisory Services, and Chandra Dhandapani becomes CEO of Global Workplace Solutions. These changes leverage executives' strengths and experience to capitalize on significant opportunities for clients and shareholders, as stated by CEO Bob Sulentic.
Positive
Key executive appointments align with strategic growth objectives.
Danny Queenan's leadership in Real Estate Investments targets increased capital investment.
Mike Lafitte's focus on Trammell Crow Company drives business expansion in the U.S. and U.K.
Negative
None.
DALLAS--(BUSINESS WIRE)--
CBRE Group, Inc. (NYSE:CBRE) today announced new executive leadership responsibilities, effective immediately.
Bob Sulentic, CBRE’s President and Chief Executive Officer, said: “The new responsibilities we are announcing today play to each executive’s unique strengths and capitalize on their outstanding track records of driving growth and excellence. These changes will help us realize the full range of significant opportunities we foresee for our clients, people and shareholders.”
Danny Queenan has assumed the responsibilities of Chief Executive Officer, Real Estate Investments (REI). One of CBRE’s key strategic objectives is to increase capital investment in its REI businesses and Mr. Queenan has a proven record of value creation as a developer/investor. He led the REI segment in 2018 and 2019 before becoming Chief Executive Officer of Advisory Services in January 2020. Earlier in his career, he was Chief Executive Officer of Trammell Crow Company (TCC), CBRE’s development subsidiary.
Mike Lafitte, who currently has dual roles as Chief Executive Officer of both REI and TCC, will now focus on his TCC Chief Executive Officer responsibilities to further build this business. Under Mr. Lafitte’s leadership TCC has grown significantly in the U.S. and established a growing presence in the U.K. and continental Europe. Mr. Lafitte has also assumed oversight of CBRE’s Client Care program, focused on driving measurable, integrated solutions for the company’s largest investor and occupier clients, an area where he has excelled over his career.
Jack Durburghas assumed the responsibilities of Chief Executive Officer, Advisory Services. Mr. Durburg has served as Chief Executive Officer, GWS, since January 2020. His new role takes advantage of Mr. Durburg’s broad background in the company’s Advisory Services business. As Global Chief Operating Officer in 2018 and 2019, Mr. Durburg oversaw all global business lines that today comprise the company’s Advisory Services business segment. Earlier in his career, he served as Chief Executive Officer of the Americas, with responsibility for all business lines, and Global President for Brokerage Services, overseeing the company’s leasing and capital markets brokerage activities. His prior leadership of these businesses led to significant market share gains for CBRE coming out of the last downturn.
Chandra Dhandapani has assumed the responsibilities of Chief Executive Officer, Global Workplace Solutions (GWS). Ms. Dhandapani most recently served as Chief Operating Officer of GWS and Chief Transformation Officer for CBRE. She has added significant value in overseeing the GWS Enterprise business and is well placed to lead the entire integrated business. She joined CBRE as Chief Digital & Technology Officer in 2016 and led a broad-based transformation of the company’s digital strategy and technology infrastructure. These prior roles equip her with operational expertise and organizational knowledge to lead the GWS business forward.
Chris Kirk, Chief Operating Officer of CBRE, has been given elevated responsibilities in this role. Mr. Kirk now shares responsibility with Mr. Sulentic for driving excellence across the entire company and has dotted-line operational oversight of the three business segments. In addition, Mr. Kirk has assumed direct oversight of Project Management, which remains part of the GWS segment, and will be accountable to Ms. Dhandapani for this responsibility.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
What are the new executive roles at CBRE announced in the press release?
CBRE has appointed Danny Queenan as CEO of Real Estate Investments, Mike Lafitte retains focus on Trammell Crow Company, Jack Durburg becomes CEO of Advisory Services, and Chandra Dhandapani is now CEO of Global Workplace Solutions.
How will the leadership changes at CBRE impact its business?
The leadership changes are designed to leverage the unique strengths of each executive, aiming to drive growth and capitalize on opportunities for clients and shareholders.
When were the changes to CBRE's executive leadership announced?
The changes to CBRE's executive leadership were announced effective immediately.
Who is the CEO of CBRE Group, Inc.?
Bob Sulentic serves as the President and Chief Executive Officer of CBRE Group, Inc.
