Just a day after announcing a promotion in the company’s New York office, Pittsburgh-based HFF today said John Pelusi has resigned as chief executive officer and vice chairman of the company effective April 1, 2014.
Mr. Pelusi, a founding member of the real estate firm, will also vacate his position as managing member of operating partnerships, according to the company’s announcement.
“We want to thank John Pelusi for his outstanding service as our CEO and for his many years of contribution to the success of the Company since its inception in 2006 and its Operating Partnerships since 1998,” said Deborah McAneny, lead director of the board, in a statement.
Ms. McAneny referred to Mr. Pelusi’s departure as a retirement, but no additional details were provided. Neither Mr. Pelusi nor a company spokesperson returned requests seeking further comment.
Mark Gibson will succeed Mr. Pelusi as chief executive of the company while Joe Thornton, Jr. will succeed him as managing member of the operating partnerships.
On Tuesday, HFF announced Andrew Scandalios has been appointed head of the New York City investment sales team and co-head of the New York office alongside Michael Tepedino. Mr. Scandalios joined HFF in 2011 and has closed over $19 billion in sales since that time.
Update: Reached for comment, Mr. Pelusi told a Mortgage Observer reporter that he wasn’t retiring, but rather giving up the two aforementioned titles as part of a succession plan at the firm. “The time was incredibly right for me to step aside given the level of senior experience, talent and leadership within the firm, coupled with the significant amount of young talent we have been able to organically grow within the firm and/or recruit to the firm,” he said in an email. “The best news from my perspective is that I will continue be in a position to help and mentor the younger future leaders in our firm and continue my role as a transaction professional, which is really the best job in the firm as it is centered on our clients.”