Cresa Executives Greg Schementi, Tod Lickerman Stepping Down

Cresa is bracing for a leadership overhaul as its president and CEO are exiting.

Greg Schementi left his position as president last week, and the search is on for a CEO to replace Tod Lickerman, CoStar reported. No reason was given for the shakeup, other than long-term growth and succession planning.

The Chicago-based tenant-rep brokerage’s Vice Chairman Tom Birnbach stepped in as interim president.

Lickerman, who took over in 2021 and steered Cresa through major expansion and international partnerships, said he will stay on in an advisory role after a successor is named, likely within the next two years.

“We’re doing a very structured, thoughtful review to say, ‘Who’s the right leader?’” Lickerman, a former top executive at Cushman & Wakefield, JLL and DTZ, told the outlet.

Schementi’s exit marked the second major change at the top this year following the January exit of CFO Kristin MacCarthy. Tracey Luehring was named CFO in her place.

Schementi and MacCarthy had joined Cresa after stints at Cushman & Wakefield, part of a wave of executive hiring that coincided with Cresa’s relocation of its headquarters to 167 Green Street in Fulton Market from Washington, D.C., in 2022.

Schementi’s last day was Friday, though he will assist with the transition for two more months.

Since Lickerman’s arrival, Cresa has ramped up growth efforts, reporting a 93 percent jump in revenue and a 78 percent increase in headcount since 2019. That includes the 2022 acquisition of Frisco, Texas-based boutique brokerage Esrp, which bolstered Cresa’s footprint in Texas and added firepower to its project management division.

Lickerman struck a partnership with Knight Frank shortly after being named permanent CEO. The alliance elevated Cresa’s overseas capabilities from a network of affiliates to a full-fledged international platform for corporate clients.

The firm, which exclusively represents tenants, is keeping its options open as it searches for the next CEO, who won’t necessarily be based in Chicago.

— Judah Duke

Editor’s note: This story was updated to correct the spelling of Tom Birnbach’s surname.