Altus Group Announces CEO Transition
TORONTO (September 15, 2020) – Altus Group Limited (“Altus Group” or “the Company”) (TSX: AIF) announced today the upcoming retirement of its Chief Executive Officer Robert Courteau and the appointment of his successor Michael Gordon, effective September 30, 2020.
“Following the Board’s continuing succession planning, we are pleased to effect this executive transition at a time when the Company is generating steady and profitable growth with record earnings, underpinned by a strong balance sheet,” said Raymond Mikulich, Chairman of Altus Group. “We are delighted to welcome Mike Gordon as our new CEO to lead the Company’s next phase of growth and innovation at a pivotal time in the commercial real estate industry. His proven track record, leadership and expertise in global software and data analytics are well suited to further advance our platform, analytics and services to better serve our global client base.”
“Bob transformed Altus Group from a collection of leading commercial real estate service businesses to a highly profitable software, data, analytics and advisory group that is leading the commercial real estate investment industry’s digital adoption. Our shareholders have enjoyed an approximate sevenfold increase in shareholder value under his leadership. It has been a pleasure to work with Bob and on behalf of the Board and our shareholders, I extend our appreciation and wish him all the best in his decision to retire after a very successful career,” continued Mr. Mikulich.
Mr. Gordon is a seasoned global leader who most recently served as Chief Executive Officer of Callcredit Information Group, a U.K.-based information solutions company focused on data, analytics and technology solutions. He was appointed to that role following the acquisition of Callcredit by GTCR in 2014, where he oversaw its transformation, rapid growth, and eventual sale to TransUnion in 2018. He previously held senior leadership positions at FICO, a leading analytics software company listed on the New York Stock Exchange. Mr. Gordon received a BS in Industrial Engineering/Operations Research from Northwestern University and an MBA in Finance and Business Economics from the University of Chicago Graduate School of Business.
Commenting on his appointment, Mr. Gordon said: “I am thrilled to be assuming this role with Altus and look forward to engaging with our employees, customers, investors and other stakeholders as we look to leverage our industry leadership position and take advantage of the global market opportunities ahead of us.”
Mr. Courteau said: “I am proud of the significant progress the team has made during my tenure. We have been very successful positioning Altus as a market leading software and services company and with his experience and success in leading and growing data and analytics businesses, Mike is a great choice to succeed me and lead Altus into the very dynamic and evolving future of CRE technology,” said Mr. Courteau. “It has been a privilege and an honour to lead Altus Group and I look forward to supporting Mike and the Board as he assumes his CEO responsibilities.”
Mr. Courteau will remain with the Company in a consulting role to help facilitate a smooth transition.
Mr. Gordon will be appointed to Altus Group’s board of directors effective September 30, 2020 and Mr. Courteau will retire from the Board effective the same day.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations
About Altus Group
Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Commercial Real Estate Consulting, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,200 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include many of the world’s largest commercial real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.