Newmark Group Inc. (NASDAQ: NMRK) announced CEO Barry M. Gosin will take on the additional role of chairman of its operating company, Newmark & Company Real Estate Inc., while Executive Vice President and Chief Legal Officer Stephen Merkel has been named chairman of the board of directors.
The executive changes follow the departure of Howard Lutnick, who stepped down as executive chairman and chairman of the board of directors to become Secretary of Commerce.
Gosin has served as CEO since 1979 while Merkel has been with the company since its acquisition by BGC Partners Inc. in 2011. Merkel is also executive vice chairman, executive managing director, and general counsel for the Cantor Fitzgerald LP group of companies, which includes Newmark Group Inc., BGC Group Inc. and Cantor Fitzgerald & Co.
“Barry is an exceptional leader who is deeply respected and admired by employees and clients alike and has been a close friend and strategic partner for more than a decade,” said Lutnick. “Together we have built one of the greatest commercial real estate companies in the United States – from a privately held company into a publicly held powerhouse that boasts an approximate $3.7 billion market capitalization. I have complete confidence in Barry’s ability to lead the firm and drive Newmark’s continued global expansion.”
Lutnick added, “Stephen has been one of my closest advisors for more than 30 years. He is an outstanding leader who understands the core of our firm. With his experience and dedication to the company, I am confident in the success of the firm as I take on a new role serving the American people.”
