Jim Hannon stepping down as CEO; Mike Gordon appointed Executive Chair and to become CEO in Q1 2026

Announces the conclusion of the strategic review

TORONTO, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group” or “the Company”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, announced today certain leadership changes to its executive team and Board of Directors (“the Board”).

Jim Hannon is departing the Company as Chief Executive Officer (“CEO”) and Director, effective immediately. Mike Gordon, Altus Group’s former CEO and Director since 2020, has been appointed Executive Chair, effective immediately, and has agreed to assume the CEO role in Q1 2026. Concurrently, Raymond Mikulich is stepping down from the Chair role and remaining on the Board as a Director. The Chair transition is part of the Board’s commitment to succession planning and ongoing refreshment.

Mr. Gordon stated: “On behalf of the Board, I’d like to thank Jim for his vision, dedication, and tireless efforts over the years. He has played an integral role positioning Altus Group for the opportunity as a pure-play data and analytics platform. As Altus Group enters its next growth phase, our focus shifts from operational build out to accelerating market adoption of our new product innovations, making this the right time for a leadership change that aligns with Altus Group’s future needs.

“We’re also very grateful to Ray for having stewarded the Company through one of its most pivotal decades amid a period of profound change in the CRE industry. During Ray’s tenure as Chair, the Company’s long-standing shareholders have witnessed a deliberate evolution of the Company’s strategy and transformation from its professional services roots into a leading CRE intelligence firm. I look forward to carrying the momentum forward and accelerating the pace of progress as I step into the role.”

Mr. Mikulich added: “I am gratified by the success we have achieved as the Company is now realigned as a focused software and analytics business. With that transition largely completed, I believe it is time for new leadership and I am confident and fully supportive of Mike Gordon, a highly regarded data and analytics executive with a proven track record of value creation.”

Strategic Review Update

The Board undertook a disciplined and thorough strategic review process, as it periodically does, to evaluate all potential options for maximizing shareholder value. The Company engaged in a fulsome review, which included a consideration of a wide spectrum of strategic alternatives – including soliciting interest from potential acquirers.

After careful consideration of the alternatives, including reviewing multiple proposals, the Board determined that remaining independent and continuing to execute and accelerate its strategy is the best path forward for Altus Group and to maximize value for its shareholders.

The Company has undergone significant business transformation in recent years to operate more efficiently and transition into a pure-play CRE data and analytics platform. Altus Group is in the early stages of a new product cycle, as market conditions strengthen and the benefits of its operational and strategic transformation are beginning to take hold. The Board believes these factors present considerable upside potential for the Company’s shareholders in the periods ahead.

Mr. Gordon added: “The strategic review gave us tremendous insight and reinforced confidence in our value creation plan. We came away with clear priorities and strengthened conviction on what needs to be done and how we need to execute to accelerate our momentum. I’m personally energized to be re-engaging in the business at such an exciting inflection point.”

The Company will provide further details of its value creation plan at its upcoming Investor Day on November 20, 2025.

Q3 2025 Results Conference Call & Webcast

Altus Group also today announced its financial results for the third quarter ended September 30, 2025. Altus Group’s management team will host a conference call at 5:00 p.m. (ET) today to discuss the results.

About Altus Group

Altus connects data, analytics, applications and expertise to deliver the intelligence necessary to drive optimal CRE performance. The industry’s top leaders rely on our market-leading solutions and expertise to power performance and mitigate risk. Our global team of ~1,800 experts are making a lasting impact on an industry undergoing unprecedented change – helping shape the cities where we live, work, and build thriving communities. For more information about Altus (TSX: AIF) please visit www.altusgroup.com.

Forward-looking Information

Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, statements relating to: the departure of Mr. Hannon as CEO and Board Director, including the effective date of his departure; the search process for a successor and results thereof; and the future business prospects and strategic focus of Altus Group and expectations relating thereto. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “would”, “could”, “should”, “continue”, “goal”, “objective”, “remain” and other similar terminology.

Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may not be known and may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. Those risks include, but are not limited to, the potential inability of the Company to identify and/or retain an appropriate candidate to act as the successor CEO in a timely fashion, including due to a lack of availability or an inability to retain such an individual on commercially reasonable terms, as well as risks described in our annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2024 (which are available on our SEDAR+ profile at www.sedarplus.ca).

Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management's current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.

FOR FURTHER INFORMATION PLEASE CONTACT:

Camilla Bartosiewicz
Chief Communications Officer, Altus Group
(416) 641-9773
camilla.bartosiewicz@altusgroup.com

Martin Miasko
Sr. Director, Investor Relations and Strategy, Altus Group
(416) 204-5136
martin.miasko@altusgroup.com