Newmark Group Inc. (NASDAQ: NMRK) announced that CEO Barry Gosin will step down on Dec. 31. He will continue as chairman of Newmark & Company Real Estate Inc., Newmark’s operating company, up to 2029.
Gosin has been CEO since 1979. In a press statement, the company said it expected to identify a new chief executive before the end of the year.
“We are delighted that Barry will remain with the company as chairman of the operating company to help the next generation of leadership as they guide Newmark through its next chapter of growth,” said Stephen Merkel, chairman of the board, executive vice president and chief legal officer of Newmark. “For nearly five decades, Barry, along with his entire leadership team, have led Newmark through some of its most consequential milestones, including its initial public offering in 2017 and becoming the fastest growing publicly traded commercial real estate firm in the world, increasing annual revenues by over 1,400% since 2011 while expanding to more than 10,000 professionals across approximately 195 locations.”
“I have spent nearly my entire career at Newmark, working alongside an exceptional team whose dedication, talent and commitment have made the Company’s success possible,” said Gosin. “The company is stronger than ever, our strategy is working, and the opportunities ahead are substantial, which is why I believe now is the right time to take a step back from day-to-day operations to focus solely on matters that will make a difference to Newmark, and to support the Company through this transition.”
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