Wirta joined CBRE with the acquisition of Koll Real Estate Services in 1997. White started as a salesperson in 1984 and entered management in 1991. He became chairman of the Americas in 1999 and was named president with responsibility for the global enterprise in 2001.
The shift doesn't mean full-time retirement for Wirta, however. He will continue to be a member of the company's board of directors and executive committee and will serve as vice chairman for two years, working on special projects as directed by White.
Wirta's time at the helm has been a period of intensive internal and market growth. On Wirta's watch, the company executed one of the industry's biggest mergers, with the $415-million acquisition of Insignia/ESG. In 2001, the firm went private in a much publicized a management buyout and returned to the public sector again in 2004. The company valuation at the time of the 2004 IPO was roughly three times what it was at the time of the management buyout.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
