Colliers extends CEO’s contract

Colliers has extended the management services agreement with chairman and chief executive Jay Hennick to 1 January 2029. The agreement was due to expire in April 2026. The agency said Hennick had been “instrumental in shaping Colliers”, adding: “Under his leadership, the company has expanded operations globally, diversified its business adding new growth engines while increasing recurring earnings to 70%.” The firm has also created a new performance-based long-term incentive plan that ties a “significant proportion” of Hennick’s compensation to the achievement of certain market capitalisation-based growth targets. For the full amount of the units to vest, Colliers’ market capitalisation would have to roughly double to $12.3bn (£9.3bn). “On behalf of the board, we are excited about securing Jay’s continued leadership, vision and tireless devotion to Colliers’ growth and value creation over the next five years,” said Jack Curtin, Colliers’ lead director. “With the implementation of this new long-term performance-based compensation plan, we believe that Colliers will be best positioned to continue delivering exceptional shareholder returns for many years to come.”