Hennick Assumes CEO's Chair at Colliers

TORONTO and SEATTLE—Jay Hennick, who founded Colliers International's former parent company in 1989, is now the services firm's chairman and CEO following the resignation of Douglas Frye. President as well as CEO of Colliers since 2002, Frye is also being succeeded by global COO Dylan Taylor, who will continue in that capacity while also taking on the duties of president. The company did not specify the reason for Frye's departure in announcing the new roles for Hennick and Taylor Wednesday afternoon.

The executive moves come a little more than two weeks after Colliers and FirstService Corp. separated into two independent, publicly traded companies, with FSV maintaining its focus on residential property management and services.  FSV acquired Colliers in 2004; since then, it has become one of the world's largest commercial real estate services firms thanks to both internal growth and more than 40 acquisitions. Colliers' global revenues exceeded $2.3 billion in 2014, including those of affiliates.

Hennick served as FSV's CEO until the June 1 separation, when he was succeeded by Scott Patterson in a planned succession. At the time of the spinoff, Frye was expected to continue in his longtime roles as president and CEO of Colliers; Hennick's and Taylor's assumption of these roles is intended to ensure a seamless transition.

“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” Hennick says. "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.”

Before taking on the title of president and COO, Taylor oversaw Colliers' global operations and 16,300 employees across 502 offices in 67 countries. As global COO, he accrued considerable experience with international markets, having managed operations in Europe, China, the Middle East and Latin America as well as the US. Prior to becoming the COO for Colliers, Taylor served as the CEO for the Americas, where he led significant growth in both revenue and profitability for the region.