Cushman’s interim CEO may stay on in position permanently

TRD 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
The Coca-Cola building at 711 5th Avenue (Credit: Google Maps and iStock)

Flipped off: The inside story of Coca-Cola’s botched building sale

Bruce Mosler and Simon Ziff

Simon Ziff and Bruce Mosler join lineup at Future City 2020

151-45 6th Road and Stephen Preuss

Massive, controversial Queens site back on market

The Coca-Cola building at 711 5th Avenue (Credit: Google Maps and iStock)

Flipped off: The inside story of Coca-Cola’s botched building sale

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Fifth Wall co-founders Brendan Wallace and Brad Greiwe (Credit: Jeff Newton)

Real estate tech investor Fifth Wall launches $500M fund

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

North Star Commercial's stie at 240 North Avenue in Downtown New Rochelle and Thomas Donovan.

This Westchester development site just hit the market seeking nearly $30M

arrow_forward_ios