Altus Group Limited Announces Appointment of New Executive Chairman and Acting CEO
TORONTO, ONTARIO–(Marketwire – Nov. 17, 2011) – Altus Group Limited (“Altus”) (TSX:AIF) today announced that Stuart H. B. Smith has been appointed as Executive Chairman and Acting CEO in addition to his current duties as a director of Altus. Mr. Smith replaces Gary Yeoman, who is no longer employed by Altus Group, effective immediately. The board wishes him best of luck in his future endeavours.
“Altus is fortunate to have an excellent team of business leaders in place companywide, and I am confident that we have the business fundamentals necessary to further advance our strategy and guide Altus through this period of transition to even greater success,” said Mr. Smith, “Gary’s contribution and expertise have been instrumental in building Altus over the years. I look forward to the opportunity to build on our current momentum and further strengthen the company.”
Stuart H. B. Smith is a proven and respected leader in the commercial real estate industry. A long-time director of Altus, he is a Chartered Accountant, the Chairman of Epic Realty Partners and past President and Chief Executive Officer of Oxford Properties Group. He has more than 30 years of experience as a corporate officer and director.
The board anticipates a search for a new CEO to be undertaken in the near future.
Altus Group Limited
Altus Group leads the global real estate industry in delivering data and information about an organization’s assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 70 offices in 14 countries worldwide, including Canada, UK, Australia, Asia and the United States. We operate five interrelated Business units, bringing years of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting, Geomatics and ARGUS Software. Altus’ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
For more information on Altus Group, please visit: www.altusgroup.com.
Certain statements in this press release may constitute “forward-looking” statements, which involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Altus and its subsidiary entities to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These risks and uncertainties are described in Altus’ publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Although the forward-looking statements contained in this press release are based upon what Altus believes to be reasonable assumptions, Altus cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and, except in accordance with applicable law, Altus will not update or revise them to reflect new events or circumstances. Additionally, Altus undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus, its financial or operating results, or its securities.
Camilla BartosiewiczBartosiewicztoronto-hqVice President, Investor Relations