|Tod Lickerman, formerly the CEO for Jones Lang LaSalle's Corporate Solutions group for the Americas, will take over as DTZ's new chief executive effective Oct. 14, 2013. |
In a move that caught many by surprise, DTZ, the property services arm of global engineering and facilities management giant UGL Ltd., appointed a new CEO and dismissed Robert Shibuya, who had led the property services business since Sydney-based UGL acquired DTZ Holdings in December 2011 with the goal of creating a world leader in property services.
Tod Lickerman, formerly the CEO for Jones Lang LaSalle's Corporate Solutions group for the Americas, will take over as DTZ's new chief executive effective Oct. 14, 2013.
DTZ called the appointment of Lickerman a "key strategic change" and said it will accelerate growth as UGL prepares for DTZ to become a standalone business.
Lickerman brings nearly 30 years of experience in the property services sector, and was considered a highly capable leader for JLL's Corporate Solutions division. His experience includes both corporate real estate and facilities management roles, including with Equis (which was acquired by UGL in 2006). He also has M&A experience within the property services sector, notably the integration of LaSalle Partners and Jones Lang Wootton.
However, much like the recent departure of Glenn Rufrano as CEO of Cushman & Wakefield, the change at DTZ caught many by surprise.
"We are surprised by the change to DTZ’s leadership, given the strong credentials of Mr. Shibuya in the global property services sector," J.P. Morgan analyst Anthony Passe-de Silva wrote in a note to investors, noting that both executives possess extensive experience in real estate services while adding the change was not expected to speed-up the timing of a planned demerger between UGL and DTZ, which UGL is aiming to complete in its fiscal year 2015.
In announcing the change, UGL Managing Director and CEO Richard Leupen acknowledged the contribution of Shibuya, the outgoing DTZ Group president. "Bob was an important member of the team responsible for the acquisition and integration of the trading operations of DTZ Holdings plc into our broader property services business creating DTZ’s global footprint. I would like to thank Bob for his contribution to DTZ and wish him success in his future endeavors."
Lickerman had served as CEO of JLL's Americas Corporate Solutions business since May 2011. The business line helps corporations improve the cost, efficiency and performance of their national, regional or global real estate portfolios by creating outsourcing partnerships to manage and execute a range of occupier services. He previously served as CEO of JLL's Commercial Solutions group.
To replace Lickerman, JLL has tapped John Forrest, who currently serves as CEO of JLL’s Corporate Solutions business for its Asia-Pacific region.