The Real Deal New York

Colliers CEO Doug Frye resigns following spinoff

Head of former parent company FirstService Corp. to step in

June 18, 2015 10:01AM

From left: Doug Frye and Jay Hennick

From left: Doug Frye and Jay Hennick

Doug Frye, the former chief executive officer and president of commercial brokerage Colliers International, resigned from his post, according to a press release issued by the company Wednesday.

Several weeks ago, Colliers announced it would be spun off from parent company FirstService Corp.

Frye will be replaced by Jay Hennick, who had acted as the CEO of  FirstService since 1989. Earlier this year, Hennick led the separation of FirstService and Colliers into two separate, publicly traded companies.

Colliers’ Global chief operating officer, Dylan Taylor, will assume the role of president.

“With the recent launch of Colliers International as an independent public company, we’re at an exciting, transformational period in our history, and better positioned than ever to accelerate the success of our clients and professionals, while creating value for our shareholders” said Hennick.

The transition in leadership comes just days after The Real Deal reported that Colliers is expected to acquire fellow commercial brokerage RKF for an undisclosed sum. [Press Release] — Tess Hofmann