Global real estate services & investment management company Colliers International Group Inc, headquartered in Toronto, issued a 2-paragraph statement sacking the chief executive of its real estate services division, Dylan Taylor, last Thursday.
The company said it terminated his employment “for misconduct, including improper trading activity in Colliers securities in breach of his employment obligations. Mr Taylor has made certain allegations which he asserts as the basis for a potential constructive dismissal claim. While management & the board of directors of Colliers have no reason to believe the validity of such claims, the board has constituted a special committee to oversee an independent review of the allegations.”
As well as Mr Taylor’s departure, his job has also gone.
Group chair & chief executive Jay Hennick said he’d continue to oversee group strategy & operations, with all regional & business line leaders directly reporting to him, and longtime chief financial officer John Friedrichsen would take on added operational responsibilities: “Effective immediately, the position of chief executive officer of real estate services is eliminated.”
Colliers has been listed on the Toronto & US NASDAQ exchanges since it was split from its former parent, First Service Corp, in 2015. Mr Hennick founded First Service in 1989, when he was 32. He holds just under 50% of the shares of both companies.
The global Colliers has $US26 billion of assets under management. Last year, it lifted global revenue by $US400 million to $US2.8 billion and lifted net profit 37% to $US128.6 million.
Taylor an international high-flier
Mr Taylor was at Colliers for 10 years, starting as chief executive for the Americas. He became global chief operating officer in 2014, president & chief operating officer in 2015, chief executive of real estate services in January this year.
He graduated from Arizona University with an engineering degree in 1993, gained an MBA in finance & strategy from Chicago University in 1998 and was based in Switzerland, routinely working in Europe & Asia, for most of the 6 years of his first job as general manager of Johnson Electric.
He moved to JLL in 2000 as a senior vice-president, then to Newmark Grubb Knight Frank in Chicago & Los Angeles as global client services president.
Along the way he received numerous honours, including being inducted into the International Association of Outsourcing Professionals’ leadership hall of fame in 2016, and being recognised as a young world leader by the World Economic Forum, which is based in Geneva but holds its hyped-up annual meetings at Davos in Switzerland.
Colliers International corporate
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3 June 2015: Propbd on Q W3Jun15 2 – Colliers lists in own right, NZF wind down underway
Attribution: Colliers, LinkedIn, Wikipedia.