May 8, 2012 / 10:30 PM / 7 years ago

CBRE CEO to retire at year-end, president to take over

NEW YORK (Reuters) - CBRE Group Inc CBG.N, the world’s largest commercial real estate services company, on Tuesday said that Chief Executive Brett White, 52, would retire at the end of the year and be succeeded by the company’s president, Robert Sulentic.

Sulentic, 55, has been president since 2009. He simultaneously served as chief financial officer during the depth of the financial crisis, before relinquishing the job in 2010.

Before that he served as group president overseeing the company’s Europe, Middle East, and Africa arm, its Development and Services business and its operations in the Asia/Pacific region.

Sulentic joined the Company in 2006 with the acquisition of Trammell Crow Co, where he was chief executive officer.

White joined CBRE’s predecessor company, Coldwell Banker Commercial, as a sales trainee in 1984. He was re-elected to the board on Tuesday.

CBRE shares closed down 12 cents at $17.55 on the New York Stock Exchange.

Reporting by Ilaina Jonas; Editing by Steve Orlofsky

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