- CEO John Forrester will retire from the company June 30, 2023
- Michelle MacKay, currently President and COO, will take on the CEO role July 1, 2023
Cushman & Wakefield (NYSE: CWK) announced today that the Board of Directors has accepted John Forrester’s intent to retire from his position as Chief Executive Officer (CEO) and member of the Board of Directors, effective June 30, 2023, following 35 years of service to the company.
As part of the Company’s long-standing succession plan, Cushman & Wakefield’s Board of Directors appointed Michelle MacKay, currently President and Chief Operating Officer (COO), to assume the role of CEO as of July 1, 2023.
Mr. Forrester will remain employed as a strategic advisor until December 31, 2023. In addition, Ms. MacKay was elected to serve on the Board of Directors, effective July 1, 2023. Brett White will remain as Executive Chairman of the Board. Andrew McDonald, currently President of Cushman & Wakefield, was appointed by the Board to an expanded role of Global President and Chief Operating Officer overseeing all the firm’s service lines and regions.
Mr. White, Cushman & Wakefield’s Executive Chairman of the Board, commented: “On behalf of Cushman & Wakefield’s Board of Directors, I thank John for his dedication and service to the firm and to the commercial real estate services industry over his long and distinguished career.”
“John is a revered industry leader known for his integrity, work ethic and deep client knowledge. His tremendous efforts over the past several years have strengthened the firm’s foundation and culture and the Board is sincerely grateful for his contribution.”
“The Board is pleased that Michelle MacKay will succeed John as CEO. Michelle has an impressive track record of creating substantial value for shareholders and clients through her deep expertise in commercial real estate and corporate strategy.”
“In their new roles, the combination of Michelle and Andrew – who also has played a pivotal role in the firm’s profitability, growth and development of new strategic opportunities – creates a formidable leadership team that is uniquely qualified to steer evolution within the commercial real estate services industry. We are confident that their leadership will significantly advance the firm’s operational excellence and ability to deliver long-term growth.”
Ms. MacKay commented: “I’m looking forward to leading this great firm through its next chapter of strategic growth. Cushman & Wakefield’s unique entrepreneurial culture and employee expertise position us to not only successfully navigate the current challenges in commercial real estate services, but to also deliver long-term value, profitability and growth.”