CEO of UK & Ireland announces decision to retire from role in 2025

Rhea-AI Summary

Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) announced that Tony Horrell, the CEO of the UK and Ireland, will retire in 2025. Tony has had a 42-year career in real estate and joined Colliers in 2010. Under his leadership, the UK and Ireland business expanded significantly, growing to over 1,000 employees and diversifying across transactional and advisory services. Colliers has begun the search for a new CEO, and Tony will remain in his position until a successor is appointed. Tony expressed pride in the company's achievements and looks forward to assisting in the transition and maintaining strategic client relationships in 2025.

Positive

• Tony Horrell's leadership resulted in significant business growth in the UK and Ireland since 2010.
• Colliers expanded to over 1,000 employees and diversified its services under Tony's tenure.
• The company has commenced the search for a new CEO, indicating proactive succession planning.
• Tony will assist in the leadership transition and focus on strategic client relationships in 2025.

Negative

• The announcement of Tony Horrell's retirement may introduce uncertainty for investors.
• The transition period until a new CEO is appointed could affect the company's stability.

LONDON, June 11, 2024 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) today announced Tony Horrell, CEO of United Kingdom and Ireland, has decided to retire from his role as CEO in 2025.

Tony’s decision follows his 42-year career in real estate as a capital markets expert and business leader. Since joining Colliers in 2010 Tony has significantly expanded the business in the UK and Ireland to create a top tier player of over 1,000 employees, with a diversified offer across transactional and advisory services. He has consistently developed the organisation through organic growth and acquisitions, focused on the needs of clients in response to evolving real estate trends during several economic cycles.

Colliers has commenced the search process for a new UK CEO and Tony will continue to lead the Colliers business as CEO for UK and Ireland until a successor is appointed.

Upon the announcement of his intention to retire from his role as CEO, Tony said: “I am immensely proud of the high performing business and close client relationships we have built at Colliers – a company with a strong culture where our people enjoy working with each other and our clients. We have exceptional teams and leaders focused on our clients’ needs, delivering services in a balanced business around the full real estate lifecycle to maximise potential. I look forward to seeing Colliers continue to excel with new leadership and focusing my time on assisting the transition and strategic client relationships in 2025.”

Davoud Amel-Azizpour, CEO EMEA, said: “Tony is an enterprising leader who fully represents our Colliers values. He has carried Colliers forward with vision, accelerating the success of our clients and our people and growing the business through many market challenges. I wish to thank him for his outstanding leadership in developing our robust and diversified offering as a market-leading business in the UK and Ireland.”

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.

Media Contact:                                 
Suzy Simpson                                                        
Head of Content, Communications and PR, UK
Colliers
Suzy.Simpson@colliers.com

Aleksandra Wasilewska
PR Director | EMEA
Colliers
Aleksandra.Wasilewska@colliers.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/525b4963-b40a-4d74-b7e6-03fa2c45e81e

FAQ

When is Tony Horrell retiring as CEO of Colliers UK & Ireland?

Tony Horrell will retire as CEO of Colliers UK & Ireland in 2025.

What impact did Tony Horrell have on Colliers UK & Ireland?

Under Tony Horrell's leadership, Colliers UK & Ireland significantly expanded, growing to over 1,000 employees and diversifying its services.

What is the stock symbol for Colliers?

The stock symbol for Colliers is CIGI.

Has Colliers started the process to find a new CEO for the UK & Ireland?

Yes, Colliers has commenced the search process for a new CEO for the UK & Ireland.

What will Tony Horrell focus on after his retirement?

Tony Horrell will assist in the leadership transition and focus on strategic client relationships in 2025.