Newmark CEO to Step Down After 47 Years
A major leadership change is taking place at Newmark. CEO Barry Gosin will step down as CEO to focus on "relevant and impactful topics," as he continues his role as chairman, according to a statement by the CRE brokerage.
Gosin's last day as CEO will be on December 31, 2026 and he will support the transition through this date, as the company seeks a replacement.
Gosin, who is based in Newmark's New York headquarters at 125 Park Avenue, has led Newmark since 1979. Some accomplishments include leading the firm to become the fastest-growing publicly traded CRE firm globally after conducting an IPO in 2017 and growing the headcount to over 10,000 professionals through roughly 195 locations.
Plus, since 2011, Newmark's annual revenues have skyrocketed by more than 1,400 percent.
"I have spent nearly my entire career at Newmark, working alongside an exceptional team whose dedication, talent and commitment have made the Company's success possible," Barry Gosin said in a statement.
"The Company is stronger than ever, our strategy is working, and the opportunities ahead are substantial, which is why I believe now is the right time to take a step back from day-to-day operations to focus solely on matters that will make a difference to Newmark, and to support the Company through this transition."
Under an agreement, Gosin will remain the chairman of Newmark & Co. for as long as 2029. The Board of Directors expects to identify a new CEO by the end of 2026.
Newmark provides CRE consulting, property management, leasing, valuation and corporate services. Its coverage spans all four main asset classes (office, multifamily, retail and industrial), among others.
For investors, it remains unclear whether Newmark's strategies will change at all under the new CEO.
Source: GlobeSt/ALM