Altus Group has appointed Mike Gordon as executive chair and he has agreed to become CEO in the first quarter of 2026.

The move is part of a series of leadership changes affecting the Toronto-based commercial real estate firm’s executive team and board. Gordon had served as a director since 2025. He will return to the CEO role that he held previously.

Jim Hannon has resigned as president and CEO, and departed the company, effective immediately. Concurrently, Raymond Mikulich is stepping down as chair and will remain on the board as a director, as part of ongoing succession planning, said Altus..

“On behalf of the board, I’d like to thank Jim for his vision, dedication, and tireless efforts over the years,” said Gordon. “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.”

Gordon also praised Mikulich for stewarding 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.”

Mikulich said it was time for new leadership now that Altus has realigned itself as software and analytics business. He expressed full support for Gordon’s promotion to board chair, praising him as a “highly regarded data and analytics executive with a proven track record of value creation.”

Meanwhile, the board provided an update on its recently completed strategic review, which considered the sale of part or all of the company among options. The board ultimately determined that remaining independent and accelerating the company’s current strategy is the best path to maximize shareholder value. Strengthening market conditions, benefits from operational transformation, and early traction in a new product cycle were some of the factors supporting continued independence.

“The strategic review gave us tremendous insight and reinforced confidence in our value-creation plan,” said Gordon. “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.”

Pictured: Mike Gordon

Photo: Courtesy of Altus Group