Cushman & Wakefield (NYSE: CWK) has recently announced significant changes to its Board of Directors, marking an inflection point in the company’s journey. Brett White, who has been instrumental in shaping the company, will retire from its Board of Directors after more than a decade of service to the company. As a strategic consultant, he will continue to provide guidance and expertise to the company through February 28, 2026.
Steve Plavin, who is retiring from his role as Head of Europe for Blackstone Real Estate Debt Strategies, will become the Board’s Non-Executive Chairman, effective as of October 1, 2025. Susan Daimler, who recently stepped down as President of Zillow, and Timothy Wennes, the former CEO and Country Head of Santander US, will also join as Independent Directors, effective as of August 1, 2025. With these appointments, the Cushman & Wakefield Board will be fully independent, other than Chief Executive Officer Michelle MacKay.
The company reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other in 2024. The Board's refreshment is aligned with the company’s strategic pivot towards growth and innovation, unveiled by MacKay late last year.
These appointments are expected to deepen the company's global commercial real estate capabilities, enhance the connection between technology and commercial real estate, and improve client and capital markets knowledge. MacKay expressed confidence in her team as they take the company through its next chapter of growth and innovation.
The new Board appointments bring extensive industry and business expertise to the company and are expected to play a crucial role in driving the company's growth and innovation initiatives moving forward. Following these announcements, the company's shares moved 0.77%, and are now trading at a price of $10.48. For more information, read the company's full 8-K submission here.
