Summary
CBRE Group, Inc. (CBRE) has announced the departure of Michael J. Lafitte, Global Group President, CBRE Client Care and Chief Executive Officer of Trammell Crow Company. This separation is by mutual agreement and is effective February 17, 2023. Mr. Lafitte's departure is a significant event for the company, as he held key leadership positions within its client-facing operations and its development arm, Trammell Crow Company.
Key Highlights
- 1Michael J. Lafitte, a key executive, is departing CBRE Group, Inc.
- 2Mr. Lafitte's roles included Global Group President, CBRE Client Care and CEO of Trammell Crow Company.
- 3The departure is by mutual agreement between Mr. Lafitte and the Company.
- 4Mr. Lafitte's last day will be February 17, 2023.
- 5He will receive payments and benefits under the Company's severance plan for senior executives.
- 6Mr. Lafitte remains eligible for a pro rata portion of previously granted Strategic Equity Awards.
Frequently Asked Questions
Michael J. Lafitte was the Global Group President, CBRE Client Care and Chief Executive Officer of Trammell Crow Company, a significant subsidiary of CBRE. His departure impacts leadership in client services and the company's development business.
Mr. Lafitte and CBRE mutually agreed that he would depart from the Company. The filing does not provide specific reasons beyond this mutual agreement.
Mr. Lafitte will receive payments and benefits according to the Company's Amended and Restated Change in Control and Severance Plan for Senior Management. He is also eligible for a pro rata portion of his 2017 Strategic Equity Awards, indicating a standard executive separation package.
While the filing doesn't detail the operational impact, Mr. Lafitte's leadership role as CEO of Trammell Crow Company suggests that the company will need to address leadership changes within this division to ensure continuity and strategic direction.