01—Abstract
Summary
Summary of the 8-K filed October 20, 2006. Cited figures are marked; the original filing is the authoritative source.
This Form 8-K filing by CB Richard Ellis Group, Inc. (CBRE) on October 20, 2006, announces a significant change in its Board of Directors.
Effective immediately, Jane Su has been elected as a new member of the Board. Ms. Su's appointment is a direct result of a Securityholders' Agreement, which grants certain stockholders affiliated with Blum Capital Partners the right to nominate directors based on their ownership percentage. Ms. Su brings a substantial background in finance and private equity, having served as a partner at Blum Capital Partners since 2006 and previously as a vice president.
Her prior experience includes roles at Banc of America Equity Partners - Asia. This appointment may signal increased strategic input or oversight from significant investors, particularly those associated with Blum Capital Partners, which recently divested a considerable number of shares.
02—Key points
Key Highlights
- Jane Su elected to the Board of Directors, effective October 18, 2006.
- Ms. Su's appointment is per a Securityholders' Agreement tied to stockholder ownership.
- Nomination for Ms. Su came from stockholders affiliated with Blum Capital Partners, L.P.
- Ms. Su has extensive experience in private equity, including a current role as partner at Blum Capital Partners.
- Prior to Blum Capital, Ms. Su was a principal at Banc of America Equity Partners - Asia.
- Blum Strategic Partners entities, with which Ms. Su is associated, recently sold 6,990,000 shares of common stock.
- Ms. Su holds a B.A. from Dartmouth College and an M.B.A. from Stanford Graduate School of Business.
03—Questions
Frequently Asked Questions
Who is Jane Su and why was she appointed to the Board?
Jane Su is a new member of CBRE's Board of Directors, elected on October 18, 2006. Her appointment is a result of a Securityholders' Agreement that allows major stockholders, in this case, those affiliated with Blum Capital Partners, to nominate directors based on their ownership stake in the company. Ms. Su has a strong background in private equity and finance.
What is the significance of Jane Su's affiliation with Blum Capital Partners?
Ms. Su is currently a partner at Blum Capital Partners, and her appointment to the Board is a direct consequence of the rights granted to Blum Capital-affiliated stockholders under a Securityholders' Agreement. This suggests that investors associated with Blum Capital Partners are seeking representation and potentially greater influence on the company's strategic direction.
Has Blum Capital Partners recently sold shares of CBRE?
Yes, the filing notes that in May 2006, certain Blum Strategic Partners entities (Blum Strategic Partners, LP, Blum Strategic Partners II, LP, and Blum Strategic Partners II GmbH & Co. KG), with which Ms. Su is associated through her roles at Blum Strategic GP, LLC and Blum Strategic GP II, LLC, sold a total of 6,990,000 shares of CBRE's common stock, adjusted for a three-for-one stock split.
Will Jane Su be serving on any Board committees?
At the time of this filing on October 20, 2006, the report explicitly states that Ms. Su has not yet been appointed to serve on any Board committees.
04—Continue