Cushman & Wakefield CEO Brett White is stepping down from the leadership position at the end of the year. White was expected to move to Dallas from the firm’s Los Angeles outpost when his contract was renewed in 2020.
With revenues topping $7.8 billion in 2020, the global real estate firm has announced that its global president, John Forrester, will become chief executive at the start of the new year. The news was announced during the firm’s Q2 report where second-quarter earnings were up 29 percent from the second quarter of 2020 ($2.2 billion).
“I began my work here as Executive Chairman, and, given the firm’s strong performance and bright future, now is the right time for me to return to that role,” White said. “John is a deeply admired and respected leader both inside our firm and across our industry. His high level of integrity, exceptional work ethic, deep client knowledge, and strong global relationships make him the obvious choice as our next CEO.”
White, who has worked for the firm for the past six years, will remain as executive chairman—presiding over strategy, mergers and acquisitions, and succession planning. He will work closely with Forrester.
Forrester began his career at DTZ in 1988 and has been with Cushman & Wakefield since it merged with DTZ in 2015.
“In this time of significant innovation and transition in the commercial real estate industry, and the need for relentless focus on operational excellence, there is no question John is the ideal executive to assume the CEO position at Cushman & Wakefield,” said Timothy Dattels, Cushman & Wakefield director and co-managing partner of TPG Capital Asia.
In his current role as global president with Cushman & Wakefield, Forrester has direct operational and management oversight of all of the firm’s service lines and regions. He is a member of the Global Executive Committee and Global Management Board.
“I’m honoured to continue leading this great organization, now as the Chief Executive. Our people and our brand carry incredible momentum as we continue to lead the industry through this global recovery,” said Forrester.