Cushman & Wakefield CEO Michelle MacKay Drives 70% Leadership Change

Michelle MacKay, the CEO of Cushman & Wakefield, recently discussed her leadership approach and the company's strategic shifts on a podcast. MacKay emphasized that Cushman & Wakefield is evolving into a different kind of company, one that is more aligned with future trends rather than relying on past practices. This transformation includes a focus on hiring visionaries who can think about future solutions rather than those who are stuck in traditional methods. MacKay's leadership style is characterized by her ability to empower and enable others to grow, take risks, and drive innovation. She believes in fostering a collaborative culture where all voices are heard and valued, which is crucial for future-proofing the organization.

MacKay's journey to the CEO position is unique. She came out of retirement to take on the role, driven by the challenge and the support of the company's then-CEO. Her experience on various boards, including during the Great Financial Crisis, has given her a broad perspective on leadership and strategy. MacKay's approach to talent acquisition is unconventional; she looks for driven, flexible, and collaborative individuals who can bring fresh ideas to the table, regardless of their industry background. This has led to significant changes in the company's senior leadership, with about 70% of the team being replaced or promoted internally within the last four years.

Under MacKay's leadership, Cushman & Wakefield has shifted its focus from traditional commercial real estate to a broader range of services, including installing solar panels, electric charging stations, and overseeing the cleanliness of stadiums. This diversification has made the company less reliant on the volatility of the real estate market. MacKay also highlighted the importance of resilience and adaptability in the face of climate change, noting that the company's services component generates about 55% of its revenue, providing a stable foundation.

MacKay's vision for the future of Cushman & Wakefield includes leveraging AI to drive growth and innovation. She believes that AI will enhance the company's ability to provide insights and solutions, rather than displacing human workers. This forward-thinking approach is part of MacKay's strategy to create a healthy ecosystem within the company, one that balances structure and flexibility, and fosters a culture of innovation and collaboration. MacKay's leadership has positioned Cushman & Wakefield to be a leader in the real estate industry, with a focus on sustainability, resilience, and future-proofing its portfolio.