Jay S. Hennick Appointed Chairman & Chief Executive Officer of Colliers International Group Inc.
June 22, 2015
Colliers International Group Inc (Nasdaq:CIGI) (TSX:CIG) announced last week the appointment of Jay S. Hennick as Chairman and Chief Executive Officer and Dylan Taylor as President and Chief Operating Officer. These appointments follow the resignation of current CEO Douglas Frye.
Hennick, who founded FirstService Corporation, the former parent company of Colliers International, in 1989, and served as its CEO until earlier this month when he led the separation of FirstService into two publicly traded companies, will provide a seamless transition in the key CEO position at Colliers International. Under Hennick's leadership and for more than twenty years, FirstService shareholders achieved a compound annual growth in share value of more than 20%. All operational responsibilities will continue under current Global COO Dylan Taylor, who will also assume the role of President.
Since being acquired by FirstService in 2004, Colliers International has become one of the fastest-growing commercial real estate firms in the world, expanding in size, scale and prominence through significant internal growth and more than 40 acquisitions. Colliers global revenue exceeded $2.3 billion (including affiliates) in 2014 and the Company was ranked 5th among the top 100 outsourcing firms by the International Association of Outsourcing Professionals for the tenth consecutive year, and receiving the highest ratings for service delivery excellence. "With the recent launch of Colliers International as an independent public company, we're at an exciting, transformational period in our history, and better positioned than ever to accelerate the success of our clients and professionals, while creating value for our shareholders" said Hennick. "Our growth strategy will remain intact; a balance of strong internal growth augmented by strategic acquisitions as we continue to enhance our global platform in key markets around the world. As we look toward the future with great anticipation and excitement, I would like to thank Doug for his years of service and contribution to the company," he concluded.
Newly promoted to President and COO, Taylor previously held the role of chief operating officer, overseeing the global operations of Colliers and its more than 16,300 employees operating out of 502 offices in 67 countries. His deep experience with international markets includes having managed operations in the United States, Europe, China, the Middle East and Latin America. Prior to becoming the COO for Colliers, Taylor previously served as the CEO for the Americas where he led significant growth in both revenue and profitability for the region.
Earlier this month, Colliers International Group Inc. and FirstService Corporation announced the completion of their separation into two independent, publicly traded companies—Colliers International Group Inc. and the new FirstService Corporation. The spinoff established Colliers' place as one of the leading publicly traded commercial real estate firms in the world.
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