Barry Gosin has been CEO of Newmark Group since 1979.
That puts him at nearly 50 years in the top job. Newmark said Friday that Gosin will leave the chief executive role before the year is out, though he will remain chairman of Newmark's operating company.
Running a company for that long is rare. Very few executives stay that long, so this is not a routine retirement.
Newmark's directors intend to choose a successor before 2026 closes. That gives it time to make a decision and a chance to hand the job to someone carefully.
Gosin said in a statement that the company is in a strong spot. "The Company is stronger than ever, our strategy is working, and the opportunities ahead are substantial," he said, adding that now is the right time to step back from daily operations.
Keeping him as chairman gives Newmark a bridge. His knowledge stays in the room while a newcomer gets up to speed.
Gosin's long tenure means he has guided the firm through big shifts in commercial real estate, from a market shaped mainly by offices and hotels to one where warehouses and data centers play a central role.
Newmark is a commercial real estate brokerage, which means it helps arrange big property deals. The New York-headquartered firm has handled major assignments across a range of property types, including office high-rises, hotels, distribution centers, and data centers.
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The stock market values Newmark at over $3.8 billion. That makes it a company with enough size to matter, but not one of the giant names on Wall Street.
The types of property Newmark works on are a useful mix. Offices and hotels tend to move with the job market and travel, while warehouses and data centers have become bigger pieces of the commercial real estate world as online shopping and cloud computing grow.
Newmark has also been through corporate changes. BGC acquired the firm in 2011, and Newmark was spun off again six years later. That history means the firm has experience operating on its own as a public company.
Howard Lutnick, the U.S. Commerce Secretary, owns BGC. That company bought Newmark in 2011.
Newmark was spun off as a separate company six years later. The Lutnick name is still close to the business: earlier this year, Newmark created the role of chief strategy officer and gave it to Howard Lutnick's son, Kyle Lutnick.
That means the next CEO search is happening with family ties in the picture. It is not unusual for a company to put a younger family member in a strategy role, but it does add another layer to watch.
A chief strategy officer focuses on long-term planning. Giving that job to Kyle Lutnick gives the family a hand in where Newmark heads next.
Whoever gets the job will decide whether Newmark keeps its current focus or shifts direction. That is the part investors will be watching.
No successor has been named yet, so there is no way to know if the next CEO will come from inside the company or from outside. That choice can say a lot about direction.
The next leader also takes over during a period of change in commercial real estate, as offices adjust to remote work while warehouses and data centers grow more important. Newmark works on both sides of that story.
If you own Newmark stock in your portfolio, the next CEO's name matters. If you do not, Newmark's deals still tell you something about where commercial real estate may be heading.
Leadership changes do not erase what a company has built. They simply mean the next chapter is written by someone new.
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