Altus Group CEO Hannon departs; Gordon to step in

Executive Summary

• Altus Group announced a significant leadership transition: Jim Hannon is departing as CEO and director, while Mike Gordon returns as Executive Chair and will assume the CEO role in Q1 2026. Raymond Mikulich steps down as Chair but remains on the board.
• The Board completed a strategic review, including soliciting interest from potential acquirers, but determined that remaining independent and accelerating the company's transformation into a pure-play CRE data and analytics platform is the best path to maximize shareholder value.
• The company announced its Third Quarter 2025 financial results and scheduled a conference call for November 6, 2025, at 5 p.m. ET, with an Investor Day planned for November 20, 2025.

Key Details

• Leadership Changes:
  • Jim Hannon: Departing as CEO and director, effective immediately.
  • Mike Gordon: Appointed Executive Chair effective immediately; agreed to assume CEO role in Q1 2026. Former CEO and director since 2020.
  • Raymond Mikulich: Stepping down as Chair; remaining on the board as a director.
• Strategic Review Outcome:
  • The Board conducted a thorough review of strategic alternatives, including soliciting interest from potential acquirers and reviewing multiple proposals.
  • Decision: Remain independent to execute and accelerate the current strategy.
  • Context: The company has transformed from professional services roots into a leading CRE intelligence firm and is in the early stages of a new product cycle.
• Financial Reporting:
  • Announcement of Third Quarter 2025 financial results for the period ended September 30, 2025.
• Upcoming Events:
  • Q3 2025 Earnings Call: Thursday, Nov. 6, 2025, at 5 p.m. ET.
    • Live Call: 1-888-660-6785 (Conference ID: 8366990).
    • Webcast available on the Altus Group website.
  • Investor Day: Scheduled for November 20, 2025, to provide further details on the value creation plan.

Notable Quotes

• Mike Gordon (Executive Chair): "On behalf of the board, I'd like to thank Jim for his vision, dedication and tireless efforts over the years... As Altus Group enters its next growth phase, our focus shifts from operational buildout to accelerating market adoption of our new product innovations, making this the right time for a leadership change that aligns with Altus Group's future needs."
• Mike Gordon (Executive Chair): "The strategic review gave us tremendous insight and reinforced confidence in our value creation plan. We came away with clear priorities and strengthened conviction on what needs to be done and how we need to execute to accelerate our momentum."
• Raymond Mikulich (Director): "I am gratified by the success we have achieved as the company is now realigned as a focused software and analytics business. With that transition largely completed, I believe it is time for new leadership, and I am confident and fully supportive of Mike Gordon..."