Cushman & Wakefield Announces Board Changes

By Tamara Parker • Monday, June 23 15:26 • Permanent Link

Cushman & Wakefield (NYSE: CWK) has announced significant changes to its Board of Directors, indicating an inflection point in the company's journey. Brett White, who has served the company for over a decade, will be retiring from the Board of Directors. His retirement marks the end of an era as he has played pivotal roles such as CEO, Executive Chairman, and later, Non-Executive Chairman. White will continue to serve as a strategic consultant to the company until February 28, 2026.

In White's place, 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 October 1, 2025. Additionally, Susan Daimler, the former President of Zillow, and Timothy Wennes, the former CEO and Country Head of Santander US, will join as Independent Directors effective August 1, 2025. With these appointments, the Cushman & Wakefield Board will be fully independent, other than CEO Michelle MacKay.

Steve Plavin, with a distinguished 40-year career in commercial real estate, has held notable positions at Blackstone Mortgage Trust, Inc., Capital Trust, Inc., and Chase Bank, among others. Susan Daimler, who recently stepped down as President of Zillow, brings over 20 years of digital and real estate expertise. Timothy Wennes, with over 35 years of banking expertise, most recently held the roles of Country Head of Santander US and President and CEO of Santander Holdings USA, Inc. and Santander Bank, N.A.

These appointments reflect the company’s strategic pivot towards growth and innovation, with a focus on deepening global commercial real estate capabilities, enhancing the connection between technology and commercial real estate, and improving client and capital markets knowledge.

Cushman & Wakefield reported revenue of $9.4 billion in 2024 across its core service lines of Services, Leasing, Capital markets, and Valuation, and other. The company stated that these appointments will bring complementary skill sets to the company’s positioning, as it enters its next chapter of growth and innovation.

As a result of these announcements, the company's shares have moved 2.96% on the market, and are now trading at a price of $10.79. For the full picture, make sure to review Cushman & Wakefield's 8-K report.

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