Newmark Announces Executive Team to Run the Business of Knotel, Post Acquisition
Newmark Group, Inc. (Nasdaq: NMRK) announced the hiring of a new executive team, including Michael Gross as CEO, to lead its Knotel flex space and hospitality business following its upcoming acquisition of Knotel, Inc. The team brings extensive experience in the flex space and hospitality sectors, which aligns with Newmark's strategy to meet the evolving workplace needs post-COVID-19. Barry Gosin, CEO, emphasized the acquisition's significance in enhancing workplace solutions, positioning Newmark as a leading global provider.
- Acquisition of Knotel enhances Newmark's service offerings in flexible office solutions.
- Experienced executive team with backgrounds in hospitality and flex space.
- Strategic positioning to capture evolving market needs post-COVID-19.
- None.
NEW YORK, March 22, 2021 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), today announces that it has hired Michael Gross, Eric Gross and Yoav Gery as the executive team to lead the Company's new Knotel flex space and hospitality business. Newmark expects to close on the acquisition of the business of Knotel, Inc. ("Knotel") shortly.
Michael Gross will serve as Chief Executive Officer, and Eric Gross and Yoav Gery as Co-Presidents of the new business to drive the growth strategy and meet increased market demand, both in the U.S. and around the world. The experience of this team provides expertise in both flex space and the hospitality industry – two disciplines that will create a differentiated platform for this business.
"Our acquisition of Knotel's business was driven by the significant role that flexible office solutions will play in the future of the workplace," said Barry Gosin, CEO of Newmark. "Bringing on an experienced executive team that has a clear vision for this vertical, combined with Newmark's market-leading platform, further positions us as a preeminent global provider of workplace solutions to fit virtually any need."
Michael Gross commented on today's announcement, "As companies emerge from the COVID-19 crisis there is a unique opportunity to meet the current market needs. The future workplace will require agility, hospitality and amenities to attract employees back to the office. We are excited to usher in new holistic workplace solutions for our clients and leverage our hospitality and flex office space backgrounds."
Michael Gross previously served as CEO of Morgans Hotel Group and was a Vice Chairman of WeWork. Eric Gross' extensive investment experience includes senior roles at Citadel Investment Group, Highbridge Capital Management and George Weiss Associates. Additionally, Eric served as a senior executive at WeWork, where he was instrumental in launching its real estate investing platform. Yoav Gery served as President of Selina, a global experience-focused hospitality company, and has held senior executive positions at Morgans Hotel Group and Marriott International.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of
Discussion of Forward-Looking Statements About Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.
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