Altus Group announces leadership transition plan

Leadership transition plans

The Company’s Board of Directors is pleased to share it has promoted Jim Hannon, currently President of Altus Analytics, to succeed Mike Gordon as CEO, effective April 1, 2022. Mr. Gordon will leave his executive role at Altus to pursue a new opportunity as CEO of ArisGlobal, a privately-held life science software company, on which he has served as the Chair of the Board for over two years. Mr. Gordon will remain CEO of Altus until March 31, 2022 to ensure a smooth transition and will remain a Director on Altus’ Board.

Mr. Hannon is appointed following a robust succession planning process supported by an external search firm. In his current role, he has led rapid transformation of Altus’ operations, including integration of recent key acquisitions, and has a career track record of driving successful strategic change and growth. He has worked closely with Mr. Gordon in developing and implementing the Company’s growth strategy to date and is ideally skilled to lead it forward.

Since joining Altus as President of Altus Analytics in December 2020, Mr. Hannon has successfully enhanced go-to-market plans and optimized Altus Analytics’ operating model which has led to record 85% Bookings growth and strong 30% revenue growth in 2021, both in constant currency. He has brought emphasis on customer success and operational efficiencies that will enable Altus to profitably scale, grow and expand globally. With over 30 years of global operating experience, prior to joining Altus he held senior management roles at Callcredit Information Group, FICO and Avaya.

The Company is also pleased to announce that Jorge Blanco, current Chief Product Officer, will be promoted to the role of President of Altus Analytics and to the newly created role of Chief Commercial Officer of Altus, also effective April 1, 2022. In his new role, Mr. Blanco will retain leadership of product strategy and roadmap, and expand his oversight to Altus Analytics operations, and commercial strategy.

As demonstrated by the strong 2021 financial results released today, Mr. Gordon leaves the CEO role at Altus with a very effective senior executive team who have worked together to create and deliver rapid progress on the Company’s refocused product roadmap and growth strategy. Altus and its senior executive team remain passionately committed to delivering on the Company’s long-term financial and strategic priorities.

Raymond Mikulich, Chair of Altus said:

“On behalf of the Board I would like to thank Mike for the many achievements and contributions under his watch, and we are pleased that he will remain on Altus’ Board of Directors. As CEO he has assembled an exceptionally strong senior executive team and led significant progress against our long-term strategy that has us well-positioned financially and strategically to become one of the world’s foremost experts and providers of CRE intelligence and solutions. The Board and I are delighted that Jim is to be Altus’ next CEO. He has a deep understanding of the business and has been closely involved in every aspect of Altus’ operations. The Board is very confident that his leadership, together with the support of the senior executive team, will build on our strong track record of growth and performance to deliver stakeholder value.”

Mike Gordon, CEO of Altus said:

“I joined Altus to help position the Company for its next chapter in a rapidly growing and evolving end-market. I’m incredibly proud that we achieved this goal on an accelerated timeline, as demonstrated by the strong 2021 results. Departing from the CEO role at this point was personally a very difficult decision to make, but I know that due to the exceptional quality of Jim and the wider senior team they will execute on Altus’ strategy brilliantly, as they have successfully done so this past year. I look forward to supporting the team in reaching Altus’ full potential through our next phases of growth as a member of the Board of Directors.”

Jim Hannon, newly appointed CEO of Altus said:

“I am excited and honoured to take on the CEO role and I am confident that this will be a seamless transition. Altus is exceptionally positioned for growth. We will continue executing our declared strategy and remain focused on operational excellence with the best talent in our industry. I’m pleased to have Jorge step into the expanded role of President of Altus Analytics and Chief Commercial Officer of the Company. Based on our 20-year history together, I’m confident Jorge will drive strong operational results and transformative innovation. I look forward to building on the success that Mike and our senior executive team have achieved in such a remarkably short time.”

Jorge Blanco, newly appointed President of Altus Analytics and Chief Commercial Officer of Altus said:

“I’m thrilled to lead Altus Analytics at this exciting inflection point in the business, and to work side-by-side with my colleagues across all of Altus to leave our mark on the industry as the first in industry CRE intelligence-as-a-service provider.”

Conference call details

The Company is inviting its shareholders and its financial analysts to join its conference call and webcast today, February 3, 2022, at 5:30 pm ET, to further discuss the leadership transition announcement. A conference call and webcast to discuss the Company’s fourth quarter and year-end results is expected to be scheduled for February 24, 2022, following the release of its management’s discussion and analysis and consolidated financial statements for the year ended December 31, 2021.

• Date: Thursday, February 3, 2022

• Time: 5:30 p.m. (ET)

• Webcast: altusgroup.com (under Investor Relations)

• Live Call: 1-800-319-4610 (toll-free North America) or +1-416-915-3239 (Toronto area)

• Replay: available via webcast at www.altusgroup.com/investor-relations/