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[8-K] Cushman & Wakefield plc Reports Material Event

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Cushman & Wakefield plc (NYSE: CWK) filed a Form 8-K disclosing a planned leadership transition at the board level effective in the second half of 2025.

Key departures: Brett White, current non-Executive Chairman and former CEO, notified the board on 19 June 2025 of his resignation from the board effective 31 July 2025. The company states the resignation is not due to any disagreement over operations or policies. Beginning 1 August 2025, White will serve as a strategic consultant through 28 February 2026 for a monthly fee of US$5,000; any unvested equity awards outstanding after 1 March 2026 will be forfeited.

Board expansion & appointments: The board size was increased to ten. Three independent directors were elected: (1) Susan Daimler (Class I, term to 2028), former President of Zillow; (2) Timothy Wennes (Class II, term to 2026), former CEO of Santander US; and (3) Stephen D. Plavin (Class III, term to 2027), retiring Senior Managing Director of Blackstone. Plavin will assume the role of Chairman effective 1 October 2025. Committee assignments will be decided later. All new directors will participate in the standard non-employee director compensation program and enter the company’s indemnity agreement.

Reg FD disclosure: A press release dated 23 June 2025 announcing these changes was furnished as Exhibit 99.1; the information is furnished, not filed, under Item 7.01.

Investor takeaways: The succession plan maintains continuity—White remains involved short term—while adding deep real estate, technology, and banking expertise. No financial data, operational changes, or disagreements were reported, suggesting limited immediate earnings impact but potential longer-term strategic benefits from the refreshed board.

Cushman & Wakefield plc (NYSE: CWK) ha presentato un modulo 8-K comunicando una prevista transizione nella leadership a livello di consiglio di amministrazione, che entrerà in vigore nella seconda metà del 2025.

Principali uscite: Brett White, attuale Presidente non esecutivo e ex CEO, ha informato il consiglio il 19 giugno 2025 della sua dimissione dal consiglio, effettiva dal 31 luglio 2025. La società specifica che le dimissioni non sono dovute a disaccordi su operazioni o politiche. Dal 1° agosto 2025, White assumerà il ruolo di consulente strategico fino al 28 febbraio 2026 con un compenso mensile di 5.000 dollari USA; eventuali premi azionari non maturati dopo il 1° marzo 2026 saranno annullati.

Espansione e nomine nel consiglio: Il numero dei membri del consiglio è stato aumentato a dieci. Sono stati eletti tre direttori indipendenti: (1) Susan Daimler (Classe I, mandato fino al 2028), ex Presidente di Zillow; (2) Timothy Wennes (Classe II, mandato fino al 2026), ex CEO di Santander US; e (3) Stephen D. Plavin (Classe III, mandato fino al 2027), Senior Managing Director in pensione di Blackstone. Plavin assumerà il ruolo di Presidente a partire dal 1° ottobre 2025. Le assegnazioni ai comitati saranno decise successivamente. Tutti i nuovi direttori parteciperanno al programma standard di compensazione per direttori non dipendenti e aderiranno all’accordo di indennizzo della società.

Comunicazione Reg FD: Un comunicato stampa datato 23 giugno 2025 che annuncia questi cambiamenti è stato fornito come Allegato 99.1; l’informazione è fornita, non depositata, ai sensi dell’Articolo 7.01.

Considerazioni per gli investitori: Il piano di successione garantisce continuità—White resterà coinvolto a breve termine—aggiungendo al contempo competenze approfondite nel settore immobiliare, tecnologico e bancario. Non sono stati riportati dati finanziari, cambi operativi o disaccordi, suggerendo un impatto limitato sugli utili immediati ma potenziali benefici strategici a lungo termine derivanti dal rinnovato consiglio.

Cushman & Wakefield plc (NYSE: CWK) presentó un Formulario 8-K divulgando una transición planificada en el liderazgo a nivel de junta directiva que será efectiva en la segunda mitad de 2025.

Salidas clave: Brett White, actual presidente no ejecutivo y ex CEO, notificó a la junta el 19 de junio de 2025 su renuncia a la junta, efectiva el 31 de julio de 2025. La compañía indica que la renuncia no se debe a desacuerdos sobre operaciones o políticas. A partir del 1 de agosto de 2025, White actuará como consultor estratégico hasta el 28 de febrero de 2026 con una tarifa mensual de 5,000 dólares; cualquier premio de acciones no adquirido después del 1 de marzo de 2026 será perdido.

Ampliación y nombramientos en la junta: El tamaño de la junta se incrementó a diez miembros. Se eligieron tres directores independientes: (1) Susan Daimler (Clase I, término hasta 2028), ex presidenta de Zillow; (2) Timothy Wennes (Clase II, término hasta 2026), ex CEO de Santander US; y (3) Stephen D. Plavin (Clase III, término hasta 2027), Director Senior en retiro de Blackstone. Plavin asumirá el cargo de presidente a partir del 1 de octubre de 2025. Las asignaciones a comités se decidirán posteriormente. Todos los nuevos directores participarán en el programa estándar de compensación para directores no empleados y firmarán el acuerdo de indemnización de la compañía.

Divulgación Reg FD: Un comunicado de prensa fechado el 23 de junio de 2025 que anuncia estos cambios fue presentado como Anexo 99.1; la información se proporciona, no se presenta, bajo el ítem 7.01.

Conclusiones para inversores: El plan de sucesión mantiene la continuidad—White permanecerá involucrado a corto plazo—a la vez que añade una profunda experiencia en bienes raíces, tecnología y banca. No se reportaron datos financieros, cambios operativos ni desacuerdos, lo que sugiere un impacto limitado en las ganancias inmediatas pero posibles beneficios estratégicos a largo plazo gracias a la junta renovada.

Cushman & Wakefield plc (NYSE: CWK)� 2025� 하반기부� 이사� 차원� 리더� 전환 계획� 공개하는 Form 8-K� 제출했습니다.

주요 퇴임: 현재 비상� 의장이자 � CEO� Brett White� 2025� 6� 19� 이사회에 2025� 7� 31일부� 이사회에� 사임� 것임� 통보했습니다. 회사� 이번 사임� 운영 또는 정책� 대� 이견 때문� 아니라고 밝혔습니�. 2025� 8� 1일부� White� 2026� 2� 28일까지 � 5,000달러� 자문료로 전략 고문으로 활동� 예정이며, 2026� 3� 1� 이후 미확� 주식 보상은 몰수됩니�.

이사� 확대 � 임명: 이사� 규모가 10명으� 늘어났습니다. � 명의 독립 이사가 선출되었습니�: (1) Susan Daimler (I등급, 임기 2028년까지), Zillow � 사장; (2) Timothy Wennes (II등급, 임기 2026년까지), Santander US � CEO; (3) Stephen D. Plavin (III등급, 임기 2027년까지), Blackstone 은� 선임 관� 이사. Plavin은 2025� 10� 1일부� 의장직을 맡을 예정입니�. 위원� 배정은 추후 결정됩니�. 모든 신임 이사� 표준 비직� 이사 보상 프로그램� 참여하며 회사� 면책 계약� 서명합니�.

Reg FD 공시: 2025� 6� 23일자 보도자료가 Exhibit 99.1� 제출되었으며, 이는 항목 7.01� 따라 제출� 것이 아닌 제공� 정보입니�.

투자� 시사�: 승계 계획은 단기적으� White가 참여하며 연속성을 유지하는 동시� 부동산, 기술 � 은� 분야� 깊은 전문성을 더합니다. 재무 데이�, 운영 변� 또는 이견은 보고되지 않아 즉각적인 수익 영향은 제한적이지� 새롭� 구성� 이사회로부� 장기적인 전략� 이점� 기대됩니�.

Cushman & Wakefield plc (NYSE: CWK) a déposé un formulaire 8-K divulguant une transition prévue à la tête du conseil d'administration, effective dans la seconde moitié de 2025.

Départs clés : Brett White, actuel président non exécutif et ancien PDG, a informé le conseil le 19 juin 2025 de sa démission, effective au 31 juillet 2025. La société précise que cette démission n’est pas liée à un désaccord sur les opérations ou les politiques. À partir du 1er août 2025, White exercera en tant que consultant stratégique jusqu’au 28 février 2026, avec une rémunération mensuelle de 5 000 USD ; toute attribution d’actions non acquise après le 1er mars 2026 sera perdue.

Extension et nominations au conseil : La taille du conseil a été portée à dix membres. Trois administrateurs indépendants ont été élus : (1) Susan Daimler (Classe I, mandat jusqu’en 2028), ancienne présidente de Zillow ; (2) Timothy Wennes (Classe II, mandat jusqu’en 2026), ancien PDG de Santander US ; et (3) Stephen D. Plavin (Classe III, mandat jusqu’en 2027), directeur général principal retraité de Blackstone. Plavin assumera le rôle de président à compter du 1er octobre 2025. Les attributions aux comités seront décidées ultérieurement. Tous les nouveaux administrateurs participeront au programme standard de rémunération des administrateurs non salariés et signeront l’accord d’indemnisation de la société.

Divulgation Reg FD : Un communiqué de presse daté du 23 juin 2025 annonçant ces changements a été fourni en tant qu’Exhibit 99.1 ; l’information est fournie, non déposée, conformément à l’article 7.01.

Points clés pour les investisseurs : Le plan de succession assure la continuité—White reste impliqué à court terme—tout en apportant une expertise approfondie en immobilier, technologie et banque. Aucun chiffre financier, changement opérationnel ou désaccord n’a été signalé, ce qui suggère un impact limité sur les résultats à court terme mais des bénéfices stratégiques potentiels à plus long terme grâce au renouvellement du conseil.

Cushman & Wakefield plc (NYSE: CWK) hat ein Formular 8-K eingereicht, in dem ein geplanter Führungswechsel auf Vorstandsebene mit Wirkung in der zweiten Hälfte des Jahres 2025 bekanntgegeben wird.

Wesentliche Abgänge: Brett White, derzeitiger nicht geschäftsführender Vorsitzender und ehemaliger CEO, informierte den Vorstand am 19. Juni 2025 über seinen Rücktritt aus dem Vorstand zum 31. Juli 2025. Das Unternehmen erklärt, dass der Rücktritt nicht auf Meinungsverschiedenheiten bezüglich der Geschäftstätigkeit oder der Richtlinien zurückzuführen ist. Ab dem 1. August 2025 wird White als strategischer Berater bis zum 28. Februar 2026 für eine monatliche Vergütung von 5.000 US-Dollar tätig sein; nicht erworbene Aktienzuteilungen nach dem 1. März 2026 verfallen.

Erweiterung und Ernennungen im Vorstand: Die Größe des Vorstands wurde auf zehn Mitglieder erhöht. Drei unabhängige Direktoren wurden gewählt: (1) Susan Daimler (Klasse I, Amtszeit bis 2028), ehemalige Präsidentin von Zillow; (2) Timothy Wennes (Klasse II, Amtszeit bis 2026), ehemaliger CEO von Santander US; und (3) Stephen D. Plavin (Klasse III, Amtszeit bis 2027), pensionierter Senior Managing Director von Blackstone. Plavin wird ab dem 1. Oktober 2025 den Vorsitz übernehmen. Die Ausschusszuweisungen werden später festgelegt. Alle neuen Direktoren nehmen am Standard-Vergütungsprogramm für nicht angestellte Direktoren teil und treten der Entschädigungsvereinbarung des Unternehmens bei.

Reg FD Offenlegung: Eine Pressemitteilung vom 23. Juni 2025, die diese Änderungen ankündigt, wurde als Anlage 99.1 bereitgestellt; die Informationen werden gemäß Punkt 7.01 bereitgestellt, nicht eingereicht.

Investorenerkenntnisse: Der Nachfolgeplan sichert Kontinuität—White bleibt kurzfristig beteiligt—und bringt gleichzeitig umfangreiche Expertise in den Bereichen Immobilien, Technologie und Banken ein. Es wurden keine finanziellen Daten, operative Änderungen oder Meinungsverschiedenheiten gemeldet, was auf eine begrenzte unmittelbare Gewinnwirkung, aber potenzielle langfristige strategische Vorteile durch den erneuerten Vorstand hindeutet.

Positive
  • Addition of three independent directors with deep technology, real-estate finance, and banking experience could enhance strategic execution.
  • Orderly succession plan: outgoing chairman Brett White remains as consultant, preserving institutional knowledge during transition.
Negative
  • Chairman resignation removes a highly recognized industry leader from formal governance roles after July 2025, potentially impacting investor confidence.
  • Uncertainty on committee assignments leaves immediate oversight structure unspecified until future board meetings.

Insights

TL;DR: Orderly chair transition, board enlarged to 10, adds tech-real-estate and banking veterans; governance risk low, strategic insight potentially higher.

The resignation of long-time leader Brett White is framed as amicable and includes a modest consulting agreement (US$35k total), mitigating continuity risk. Elevating Stephen Plavin, a seasoned real-estate financier, to Chairman keeps domain expertise at the helm while preserving independence. Adding Susan Daimler introduces digital-platform perspective, and Timothy Wennes brings regulated-bank oversight—skill sets aligned with CWK’s capital-market and prop-tech initiatives. No related-party transactions or 404(a) issues were disclosed, supporting clean governance. Because changes are confined to board composition, immediate financial impact is negligible; nonetheless, enhanced board capabilities could influence strategic direction over time.

TL;DR: Leadership shuffle neutral near term; could be mildly accretive long term via expertise infusion and preserved institutional memory.

From an investment standpoint, today’s 8-K does not alter fundamentals—no guidance revision, no capital actions. Brett White’s continued consultancy minimizes disruption while freeing the chair for fresh oversight. Stephen Plavin’s credit-market background may aid balance-sheet optimization, useful as CRE debt markets tighten. Susan Daimler’s tech pedigree aligns with brokerage digitization trends, a differentiator if CWK scales data-driven services. Timothy Wennes offers banking-relationship leverage. Execution risk is low because all three are external, independent appointments. Given the absence of disagreements and the staged hand-off, I view the development as strategically positive but not immediately price-moving.

Cushman & Wakefield plc (NYSE: CWK) ha presentato un modulo 8-K comunicando una prevista transizione nella leadership a livello di consiglio di amministrazione, che entrerà in vigore nella seconda metà del 2025.

Principali uscite: Brett White, attuale Presidente non esecutivo e ex CEO, ha informato il consiglio il 19 giugno 2025 della sua dimissione dal consiglio, effettiva dal 31 luglio 2025. La società specifica che le dimissioni non sono dovute a disaccordi su operazioni o politiche. Dal 1° agosto 2025, White assumerà il ruolo di consulente strategico fino al 28 febbraio 2026 con un compenso mensile di 5.000 dollari USA; eventuali premi azionari non maturati dopo il 1° marzo 2026 saranno annullati.

Espansione e nomine nel consiglio: Il numero dei membri del consiglio è stato aumentato a dieci. Sono stati eletti tre direttori indipendenti: (1) Susan Daimler (Classe I, mandato fino al 2028), ex Presidente di Zillow; (2) Timothy Wennes (Classe II, mandato fino al 2026), ex CEO di Santander US; e (3) Stephen D. Plavin (Classe III, mandato fino al 2027), Senior Managing Director in pensione di Blackstone. Plavin assumerà il ruolo di Presidente a partire dal 1° ottobre 2025. Le assegnazioni ai comitati saranno decise successivamente. Tutti i nuovi direttori parteciperanno al programma standard di compensazione per direttori non dipendenti e aderiranno all’accordo di indennizzo della società.

Comunicazione Reg FD: Un comunicato stampa datato 23 giugno 2025 che annuncia questi cambiamenti è stato fornito come Allegato 99.1; l’informazione è fornita, non depositata, ai sensi dell’Articolo 7.01.

Considerazioni per gli investitori: Il piano di successione garantisce continuità—White resterà coinvolto a breve termine—aggiungendo al contempo competenze approfondite nel settore immobiliare, tecnologico e bancario. Non sono stati riportati dati finanziari, cambi operativi o disaccordi, suggerendo un impatto limitato sugli utili immediati ma potenziali benefici strategici a lungo termine derivanti dal rinnovato consiglio.

Cushman & Wakefield plc (NYSE: CWK) presentó un Formulario 8-K divulgando una transición planificada en el liderazgo a nivel de junta directiva que será efectiva en la segunda mitad de 2025.

Salidas clave: Brett White, actual presidente no ejecutivo y ex CEO, notificó a la junta el 19 de junio de 2025 su renuncia a la junta, efectiva el 31 de julio de 2025. La compañía indica que la renuncia no se debe a desacuerdos sobre operaciones o políticas. A partir del 1 de agosto de 2025, White actuará como consultor estratégico hasta el 28 de febrero de 2026 con una tarifa mensual de 5,000 dólares; cualquier premio de acciones no adquirido después del 1 de marzo de 2026 será perdido.

Ampliación y nombramientos en la junta: El tamaño de la junta se incrementó a diez miembros. Se eligieron tres directores independientes: (1) Susan Daimler (Clase I, término hasta 2028), ex presidenta de Zillow; (2) Timothy Wennes (Clase II, término hasta 2026), ex CEO de Santander US; y (3) Stephen D. Plavin (Clase III, término hasta 2027), Director Senior en retiro de Blackstone. Plavin asumirá el cargo de presidente a partir del 1 de octubre de 2025. Las asignaciones a comités se decidirán posteriormente. Todos los nuevos directores participarán en el programa estándar de compensación para directores no empleados y firmarán el acuerdo de indemnización de la compañía.

Divulgación Reg FD: Un comunicado de prensa fechado el 23 de junio de 2025 que anuncia estos cambios fue presentado como Anexo 99.1; la información se proporciona, no se presenta, bajo el ítem 7.01.

Conclusiones para inversores: El plan de sucesión mantiene la continuidad—White permanecerá involucrado a corto plazo—a la vez que añade una profunda experiencia en bienes raíces, tecnología y banca. No se reportaron datos financieros, cambios operativos ni desacuerdos, lo que sugiere un impacto limitado en las ganancias inmediatas pero posibles beneficios estratégicos a largo plazo gracias a la junta renovada.

Cushman & Wakefield plc (NYSE: CWK)� 2025� 하반기부� 이사� 차원� 리더� 전환 계획� 공개하는 Form 8-K� 제출했습니다.

주요 퇴임: 현재 비상� 의장이자 � CEO� Brett White� 2025� 6� 19� 이사회에 2025� 7� 31일부� 이사회에� 사임� 것임� 통보했습니다. 회사� 이번 사임� 운영 또는 정책� 대� 이견 때문� 아니라고 밝혔습니�. 2025� 8� 1일부� White� 2026� 2� 28일까지 � 5,000달러� 자문료로 전략 고문으로 활동� 예정이며, 2026� 3� 1� 이후 미확� 주식 보상은 몰수됩니�.

이사� 확대 � 임명: 이사� 규모가 10명으� 늘어났습니다. � 명의 독립 이사가 선출되었습니�: (1) Susan Daimler (I등급, 임기 2028년까지), Zillow � 사장; (2) Timothy Wennes (II등급, 임기 2026년까지), Santander US � CEO; (3) Stephen D. Plavin (III등급, 임기 2027년까지), Blackstone 은� 선임 관� 이사. Plavin은 2025� 10� 1일부� 의장직을 맡을 예정입니�. 위원� 배정은 추후 결정됩니�. 모든 신임 이사� 표준 비직� 이사 보상 프로그램� 참여하며 회사� 면책 계약� 서명합니�.

Reg FD 공시: 2025� 6� 23일자 보도자료가 Exhibit 99.1� 제출되었으며, 이는 항목 7.01� 따라 제출� 것이 아닌 제공� 정보입니�.

투자� 시사�: 승계 계획은 단기적으� White가 참여하며 연속성을 유지하는 동시� 부동산, 기술 � 은� 분야� 깊은 전문성을 더합니다. 재무 데이�, 운영 변� 또는 이견은 보고되지 않아 즉각적인 수익 영향은 제한적이지� 새롭� 구성� 이사회로부� 장기적인 전략� 이점� 기대됩니�.

Cushman & Wakefield plc (NYSE: CWK) a déposé un formulaire 8-K divulguant une transition prévue à la tête du conseil d'administration, effective dans la seconde moitié de 2025.

Départs clés : Brett White, actuel président non exécutif et ancien PDG, a informé le conseil le 19 juin 2025 de sa démission, effective au 31 juillet 2025. La société précise que cette démission n’est pas liée à un désaccord sur les opérations ou les politiques. À partir du 1er août 2025, White exercera en tant que consultant stratégique jusqu’au 28 février 2026, avec une rémunération mensuelle de 5 000 USD ; toute attribution d’actions non acquise après le 1er mars 2026 sera perdue.

Extension et nominations au conseil : La taille du conseil a été portée à dix membres. Trois administrateurs indépendants ont été élus : (1) Susan Daimler (Classe I, mandat jusqu’en 2028), ancienne présidente de Zillow ; (2) Timothy Wennes (Classe II, mandat jusqu’en 2026), ancien PDG de Santander US ; et (3) Stephen D. Plavin (Classe III, mandat jusqu’en 2027), directeur général principal retraité de Blackstone. Plavin assumera le rôle de président à compter du 1er octobre 2025. Les attributions aux comités seront décidées ultérieurement. Tous les nouveaux administrateurs participeront au programme standard de rémunération des administrateurs non salariés et signeront l’accord d’indemnisation de la société.

Divulgation Reg FD : Un communiqué de presse daté du 23 juin 2025 annonçant ces changements a été fourni en tant qu’Exhibit 99.1 ; l’information est fournie, non déposée, conformément à l’article 7.01.

Points clés pour les investisseurs : Le plan de succession assure la continuité—White reste impliqué à court terme—tout en apportant une expertise approfondie en immobilier, technologie et banque. Aucun chiffre financier, changement opérationnel ou désaccord n’a été signalé, ce qui suggère un impact limité sur les résultats à court terme mais des bénéfices stratégiques potentiels à plus long terme grâce au renouvellement du conseil.

Cushman & Wakefield plc (NYSE: CWK) hat ein Formular 8-K eingereicht, in dem ein geplanter Führungswechsel auf Vorstandsebene mit Wirkung in der zweiten Hälfte des Jahres 2025 bekanntgegeben wird.

Wesentliche Abgänge: Brett White, derzeitiger nicht geschäftsführender Vorsitzender und ehemaliger CEO, informierte den Vorstand am 19. Juni 2025 über seinen Rücktritt aus dem Vorstand zum 31. Juli 2025. Das Unternehmen erklärt, dass der Rücktritt nicht auf Meinungsverschiedenheiten bezüglich der Geschäftstätigkeit oder der Richtlinien zurückzuführen ist. Ab dem 1. August 2025 wird White als strategischer Berater bis zum 28. Februar 2026 für eine monatliche Vergütung von 5.000 US-Dollar tätig sein; nicht erworbene Aktienzuteilungen nach dem 1. März 2026 verfallen.

Erweiterung und Ernennungen im Vorstand: Die Größe des Vorstands wurde auf zehn Mitglieder erhöht. Drei unabhängige Direktoren wurden gewählt: (1) Susan Daimler (Klasse I, Amtszeit bis 2028), ehemalige Präsidentin von Zillow; (2) Timothy Wennes (Klasse II, Amtszeit bis 2026), ehemaliger CEO von Santander US; und (3) Stephen D. Plavin (Klasse III, Amtszeit bis 2027), pensionierter Senior Managing Director von Blackstone. Plavin wird ab dem 1. Oktober 2025 den Vorsitz übernehmen. Die Ausschusszuweisungen werden später festgelegt. Alle neuen Direktoren nehmen am Standard-Vergütungsprogramm für nicht angestellte Direktoren teil und treten der Entschädigungsvereinbarung des Unternehmens bei.

Reg FD Offenlegung: Eine Pressemitteilung vom 23. Juni 2025, die diese Änderungen ankündigt, wurde als Anlage 99.1 bereitgestellt; die Informationen werden gemäß Punkt 7.01 bereitgestellt, nicht eingereicht.

Investorenerkenntnisse: Der Nachfolgeplan sichert Kontinuität—White bleibt kurzfristig beteiligt—und bringt gleichzeitig umfangreiche Expertise in den Bereichen Immobilien, Technologie und Banken ein. Es wurden keine finanziellen Daten, operative Änderungen oder Meinungsverschiedenheiten gemeldet, was auf eine begrenzte unmittelbare Gewinnwirkung, aber potenzielle langfristige strategische Vorteile durch den erneuerten Vorstand hindeutet.

false 0001628369 0001628369 2025-06-19 2025-06-19
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): June 19, 2025

 

 

CUSHMAN & WAKEFIELD PLC

(Exact Name of Registrant as Specified in its Charter)

 

 

 

England and Wales   001-38611   98-1193584

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

125 Old Broad Street

London, United Kingdom EC2N 1AR

(Address of Principal Executive Offices) (Zip Code)

+44 20 3296 3000

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange

on which registered

Ordinary shares, $0.10 nominal value   CWK   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Director

On June 19, 2025, Brett White notified the board of directors (the “Board”) of Cushman & Wakefield plc (the “Company”) of his decision to resign from the Board, effective July 31, 2025. On June 19, 2025, based on the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Nominating Committee”), the Board accepted Mr. White’s resignation. Accordingly, Mr. White will step down from the Board (and from his current position of non-Executive Chairman of the Board) effective July 31, 2025. Mr. White’s resignation is not the result of any disagreement with the Company or its management relating to the Company’s operations, policies or practice.

On June 19, 2025, Mr. White entered into a Strategic Consulting Agreement with the Company (the “Consulting Agreement”). Under the terms of the Consulting Agreement, effective August 1, 2025, Mr. White will continue to serve the Company as a strategic consultant, providing guidance and expertise to the Company through February 28, 2026. Mr. White shall be paid a fee of $5,000.00 per month to provide such consulting services. For purposes of certain of his outstanding equity awards, the Board has deemed the services to be provided under the Consulting Agreement to be commensurate services with those he previously provided to the Company. All outstanding equity awards held by Mr. White that are not vested as of March 1, 2026 will be forfeited as of that date.

For over a decade Mr. White has provided strong leadership and expertise to the Company, and the Board wishes to publicly thank him for his service. Mr. White has been instrumental in shaping the Cushman & Wakefield of today, serving in the roles of CEO, Executive Chairman, and Non-Executive Chairman. Mr. White navigated the Company through its initial public offering and spearheaded several strategic investments to drive growth and expansion. Leveraging his industry acumen and influence, Mr. White elevated the Company to become a global leader in the advisory and services sector.

Appointment of Directors

On June 19, 2025, the Board increased the size of the Board to ten directors and, based on the recommendation of the Nominating Committee, appointed each of Susan Daimler and Timothy Wennes to serve as a director on the Board effective as of August 1, 2025, filling two of the existing vacancies. In addition, based on the recommendation of the Nominating Committee, to fill the final vacancy the Board appointed Stephen D. Plavin to serve as a director on the Board effective as of October 1, 2025. Ms. Daimler will serve as a Class I director, with a term expiring at the Company’s annual general meeting of shareholders (“Annual Meeting”) in 2028 and until her successor is duly elected and qualified or until her earlier resignation or removal. Mr. Wennes will serve as a Class II director, with a term expiring at the 2026 Annual Meeting and until his successor is duly elected and qualified or until his earlier resignation or removal. Mr. Plavin will serve as a Class III director, with a term expiring at the 2027 Annual Meeting and until his successor is duly elected and qualified or until his earlier resignation or removal. In addition, Mr. Plavin will become the Chairman of the Board effective October 1, 2025. At the time of the filing of this Form 8-K, the Board has not yet determined the specific committee assignments for Ms. Daimler, Mr. Wennes, and Mr. Plavin, if any.

Ms. Daimler, age 48, has more than 20 years of experience in the technology and real estate industries. Most recently, Ms. Daimler served as President of Zillow, a real estate technology company, from 2021 to 2024, overseeing strategy, operations, sales and communications. Ms. Daimler joined Zillow in October 2012 after its acquisition of Buyfolio, Inc., a co-shopping platform for real estate agents and home buyers, which she co-founded in 2009. Prior to Buyfolio, Ms. Daimler co-founded the travel website SeatGuru, which was acquired by Expedia Group Inc. in 2007. She currently serves on the Board of Directors of PubMatic, Inc. (NASDAQ: PUBM), a company that develops and implements online advertising software for the digital publishing and advertising industry, and on the Board of Trustees at The Johns Hopkins University. Ms. Daimler holds a Bachelor of Arts in English from The Johns Hopkins University.

Mr. Wennes, age 57, served as Country Head of Santander US and President and CEO of Santander Holdings USA, Inc., a wholly-owned subsidiary of Banco Santander, S.A., and Santander Bank N.A., from 2019 until March 2025. Before joining Santander, Mr. Wennes held various leadership roles at MUFG Union Bank, N.A. from 2008 to 2019, most recently serving as West Coast President. Prior to that, Mr. Wennes worked at Countrywide Bank (now part of Bank of America, N.A.) from 2003 to 2008 as President and Chief Operating Officer, Retail Banking. Mr. Wennes began his career at Wells Fargo, holding various roles from 1989 to 2003. Mr. Wennes previously served on the board of directors of Santander Holdings USA, Inc. and Santander Bank, N.A. Mr. Wennes holds a B.A. from the University of Southern California and an M.B.A. from California State University, Fullerton.

Mr. Plavin, age 65, is a Senior Managing Director of the Blackstone Group, a position he has held since 2012 and from which he will retire in July 2025. In this role, Mr. Plavin has overseen Blackstone’s commercial real estate lending and private debt investing activities in Europe. Previously, from 2012 to 2021, Mr. Plavin was the Chief Executive Officer and a Director of Blackstone Mortgage Trust, Inc. (NYSE:BXMT), a commercial mortgage real estate investment trust (“REIT”) under Blackstone’s management. Prior to his tenure at Blackstone, Mr. Plavin served as Chief Executive Officer of Capital Trust, Inc. (predecessor of Blackstone Mortgage Trust), beginning in 2009. From 1998 until 2009, Mr. Plavin was Chief Operating Officer of Capital Trust with responsibility for all lending, investing, and portfolio management activities of the firm. From 1984 to 1998, Mr. Plavin worked at Chase Manhattan Bank and its affiliates and predecessor (Chemical Bank), where he held various positions, including Global Co-Head of AG˹ٷ Estate. Mr. Plavin serves on the board of Omega Healthcare Investors, Inc. (NYSE:OHI), a REIT which provides capital to the long-term healthcare industry, and previously served as the Non-executive Chairman of the board of WCI Communities, Inc. (NYSE: WCIC), a developer of residential communities. Mr. Plavin holds a B.A. from Tufts University and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University.


There are no arrangements or understandings between each of Ms. Daimler, Mr. Wennes, or Mr. Plavin, on the one hand, and any other person, on the other hand, pursuant to which the individual has been selected and appointed as a director of the Company. There are no transactions in which Ms. Daimler, Mr. Wennes, or Mr. Plavin has a direct or indirect material interest required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the U.S. Securities and Exchange Commission (the “Commission”).

In connection with their service on the Board, each of Ms. Daimler, Mr. Wennes, and Mr. Plavin will be eligible to receive compensation under the Company’s Non-Employee Director Compensation Program, as disclosed in the Company’s Definitive Proxy Statement filed with the Commission on April 4, 2025, as may be adjusted by the Board from time to time. Ms. Daimler, Mr. Wennes, and Mr. Plavin will each enter into the Company’s standard form of Deed of Indemnity for directors, a copy of which is filed as Exhibit 10.8 to the Company’s Annual Report on Form 10-K filed with the Commission on February 21, 2025.

 

Item 7.01

Regulation FD Disclosure.

A copy of the press release announcing Mr. White’s retirement from the Board and the new Board appointments is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 7.01 by reference.

The information contained in Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed as part of this report:

 

Exhibit
No.
  

Description

99.1    Press Release dated June 23, 2025.
104    Cover Page Interactive Data File (formatted as Inline XBRL).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 23, 2025

 

CUSHMAN & WAKEFIELD PLC
By:  

/s/ Noelle J. Perkins

Name:   Noelle J. Perkins
Title:   Executive Vice President, Chief Legal Officer & Secretary

FAQ

Why is Brett White resigning from Cushman & Wakefield (CWK)'s board?

The 8-K states his resignation, effective 31 July 2025, is voluntary and not due to disagreements with management or operations.

Will Brett White continue to be involved with CWK after stepping down?

Yes. From 1 August 2025 to 28 February 2026 he will serve as a strategic consultant for US$5,000 per month.

Who will become the new Chairman of Cushman & Wakefield?

Stephen D. Plavin will assume the Chairman role effective 1 October 2025.

How many directors are being added to CWK's board?

Three directors—Susan Daimler, Timothy Wennes, and Stephen Plavin—were appointed, expanding the board to ten members.

Does the filing disclose any financial impact or earnings guidance changes for CWK?

No. The 8-K is limited to governance changes; it contains no financial results or guidance updates.
Cushman & Wakefield Plc

NYSE:CWK

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2.56B
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AG˹ٷ Estate Services
AG˹ٷ Estate
United States
LONDON