Newmark Group, Inc., a renowned advisor and service provider in the commercial real estate sector, is realigning its future corporate leadership. Barry Gosin, who has held the position of Chief Executive Officer (CEO) since 1979, will relinquish this role on 31 December 2026. This step was communicated by Newmark Group, which advises leading institutional investors, global corporations, and property owners and users.
Mr Gosin will continue to serve the company as Chairman of Newmark & Company Real Estate, Inc. Newmark & Company Real Estate, Inc. is Newmark's operating entity. In this role, he will concentrate on strategic and critical issues and actively support the transition process. The company boasts an established leadership team with extensive expertise, which is intended to facilitate this orderly transition and ensure the group's continued success in the coming years.
Newmark's Board of Directors plans to name the new CEO by the end of the year. Stephen Merkel, Chairman of the Board, Executive Vice President, and Chief Legal Officer of Newmark, expressed his pleasure at Mr Gosin's retention as Chairman of the operating entity. He emphasised that Mr Gosin will support the next generation of leadership in Newmark's continued development. Mr Merkel highlighted Mr Gosin's achievements, who has guided Newmark for almost five decades and steered it through significant corporate milestones.
Key successes under Barry Gosin's leadership include the initial public offering in 2017 and the establishment of Newmark as the world's fastest-growing publicly traded commercial real estate services company. Since 2011, the company has increased its annual revenue by over 1,400 per cent. The workforce grew to over 10,000 professionals across approximately 195 locations during this period.
Barry Gosin stated that he has spent almost his entire professional career at Newmark and attributes the company's successes to the commitment, talent, and dedication of his team. He sees the company as stronger than ever, with an effective strategy and considerable future opportunities. Therefore, he deems the current time appropriate to withdraw from day-to-day operational business and to focus exclusively on issues critical to Newmark, as well as to guide the company through the transition.
In connection with this announcement, it was disclosed that Mr Gosin has entered into an amended and restated employment agreement. This agreement stipulates that he will serve as Chairman of the operating unit, Newmark & Co., until 2029.
