Cushman & Wakefield is making changes at the top of its Americas division, replacing CEO Shawn Mobley with Andrew McDonald, who is being promoted from head of the company’s western region.
Mobley is leaving the firm, but it is unclear what his plans are, according to Commercial Observer. “I’m reassessing and refocusing both my personal and professional priorities,” he wrote in a note he posted to LinkedIn Wednesday. He joined Cushman in 2011 from the Chicago office of Grubb & Ellis, and served as CEO of the Americas division since November 2017.
McDonald is a Cushman veteran, having joined Cushman Realty in 1999 and stayed on through its merger with Cushman & Wakefield. In an interview with The Real Deal late last year, he talked about ramping up the firm’s data and analytics capabilities, and finding new ways to train the next generation of brokers.
In March, Cushman, which is led by CEO Brett White and president John Forrester, made a round of layoffs as it spoke of new “strategic priorities.”
Its share price has dropped over 40 percent this year, as the firm and many of its rivals have seen their leasing and sales businesses hurt by the pandemic. Cushman’s net income for the first quarter was just shy of $7 million, down 70 percent year over year. [CO] —TRD Staff