CB Richard Ellis Names President as CEO

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CB Richard Ellis Group Inc., one of the world’s largest commercial real estate services companies, named Brett White to succeed Chief Executive Ray Wirta on June 2, as part of a long-planned succession strategy.


Wirta and White, the company’s president, have jointly run CB Richard Ellis for several years, with White overseeing much of the L.A.-based commercial real estate services firm’s global operations on a day-to-day basis.


All worldwide businesses currently report to White, except global investment management, which will begin reporting to him when he assumes CEO responsibilities.


White has worked his entire career at CB Richard Ellis, starting as a salesman in 1984 before becoming president in 2001. White helped Wirta take the company public last summer.


Wirta joined CB Richard Ellis with the acquisition of Koll Real Estate Services in 1997 and was named chief executive in 1999. He will continue to be a member of the board of directors and will serve as vice chairman for two years. When White assumes the role of chief executive the position will be combined with that of president.


Shares of CB Richard Ellis were down 0.1 percent to $36.78 in early-afternoon trading.

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