Cushman’s interim CEO may stay on in position permanently

New York /
Nov.November 18, 2013 08:34 AM

Cushman & Wakefield’s executive chairman Carlo Barel di Sant’Albano, who took over as interim CEO after Glenn Rufrano’s abrupt exit in June, may remain in the position in a long-term capacity.

Di Sant’Albano led the acquisition of a controlling interest in Cushman in 2006, as CEO of Exor SpA, the investment company controlled by Italy’s Agnelli family. In 2010, he became executive chairman of the brokerage, which Exor SpA still controls, and stepped in to run the firm on a short-term basis after Rufrano’s exit. But his success as interim CEO — the firm’s revenue was $1.66 billion in the first nine months of 2013, up from $1.39 billion for the same period in 2012 — has led many top brokers at the firm to push for him to stay on, the Wall Street Journal reported.

Di Sant’Albano declined to comment on the status of his position, but told the Journal that if Cushman had both an executive chairman and a CEO, they would make “a tremendous team.”

To remain in the position, he would have to get the approval of Shahriar Tadjbakhsh, Exor SpA’s chief operating officer and the head of the search committee tasked with finding Rufrano’s replacement, according to the Journal. Tadjbakhsh’s fractious relationship with Rufrano was one of the key reasons for the latter’s departure, sources told the newspaper.

Last week, Rufrano rejoined Manhattan-based real estate investment firm O’Connor Capital Partners, where he was a founding partner. [WSJ]  – Hiten Samtani


Related Articles

arrow_forward_ios
Cushman & Wakefield CIO Nathaniel Robinson and CEO Brett White (iStock)
Cushman launches $250M SPAC
Cushman launches $250M SPAC
Saadia Group, Lord & Taylor's new owner, will sublet its new headquarters from Cushman & Wakefield. (Getty, RPW Group)
Lord & Taylor owner sublets new Midtown HQ
Lord & Taylor owner sublets new Midtown HQ
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Cushman & Wakefield CEO Brett White, Mayor Bill de Blasio, and Donald Trump, Eric Trump and Donald Trump Jr. (Getty)
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield's Toby Dodd with One Pierrepont Plaza in Brooklyn and One World Trade Center (Photos via Cushman, Brookfield and Pixabay)
Cushman to consolidate its Lower Manhattan and Brooklyn offices
Cushman to consolidate its Lower Manhattan and Brooklyn offices
The discrimination suit filed against Cushman alleges the firm underpaid an employee of color — along with others on his team — compared to white colleagues. (iStock)
Ex-Cushman employee accuses firm of pay discrimination
Ex-Cushman employee accuses firm of pay discrimination
From left: former Vornado CFO Joseph Macnow; ; Howard Hughes Corporation CEO David O’Reilly, former Cushman & Wakefield CFO Duncan Palmer (Photos via Vornado, Howard Hughes, Cushman & Wakefield)
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Cushman & Wakefield CEO Brett White and CFO Duncan Palmer (Photos via Cushman & Wakefield)
Cushman reports $37.3M loss in Q3
Cushman reports $37.3M loss in Q3
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...