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Izett steps down from the helm at Colliers
Colliers International UK, the new name of the rebranded AIM-listed Colliers CRE business, said in a H1 trading statement today that revenues were 12% up on last year overall, whilst in the UK revenues were 15% up on the same period last year.
CEO David Izett, who has been in the post for 9 years, has announced his intention to step down.
He said: "Colliers International is an excellent firm. The trading update announced today shows that the strategy we adopted at the time of the fundraising last year is starting to show results, despite the continuance of challenging markets. Having been CEO for nine years, the time is right to bring in new management who can take the business on through its next stage of development. I want to thank all of my colleagues for the support they have given me during my time with the Company."
Chris McLernon, currently a non-executive of the Company and CEO EMEA for FirstService subsidiary Colliers International, will act as interim CEO until a replacement is appointed.
Sir John Ritblat, Chairman of the Company, said:
"During the nine years David has been CEO of the Company, he has worked tirelessly on behalf of shareholders, clients and employees, and the Group he has helped to build is a testament to his achievements. Following the investment last year by FirstService Real Estate Advisors, and the successful rebranding of the business as Colliers International, David is leaving the Company in good shape for the future. I and all of my Board colleagues thank him for all of his efforts and wish him every success in his future endeavours."
CEO David Izett, who has been in the post for 9 years, has announced his intention to step down.
He said: "Colliers International is an excellent firm. The trading update announced today shows that the strategy we adopted at the time of the fundraising last year is starting to show results, despite the continuance of challenging markets. Having been CEO for nine years, the time is right to bring in new management who can take the business on through its next stage of development. I want to thank all of my colleagues for the support they have given me during my time with the Company."
Chris McLernon, currently a non-executive of the Company and CEO EMEA for FirstService subsidiary Colliers International, will act as interim CEO until a replacement is appointed.
Sir John Ritblat, Chairman of the Company, said:
"During the nine years David has been CEO of the Company, he has worked tirelessly on behalf of shareholders, clients and employees, and the Group he has helped to build is a testament to his achievements. Following the investment last year by FirstService Real Estate Advisors, and the successful rebranding of the business as Colliers International, David is leaving the Company in good shape for the future. I and all of my Board colleagues thank him for all of his efforts and wish him every success in his future endeavours."
Fri, 30th Jul 2010