TORONTO, May 19, 2015 /CNW/ - Brookfield Real Estate Services Inc. (the "Company") (TSX: BRE) announced today the appointment of Glen McMillan as Chief Financial Officer, effective immediately. Mr. McMillan succeeds Kevin Cash, who held the position of CFO since the Company's initial public offering in 2003.
Mr. McMillan brings a depth of executive finance and operational experience to the role. He was most recently Senior Vice President at Brookfield Asset Management, where over the past four years he has managed a portfolio of more than 40 investments, orchestrating numerous acquisitions, consolidations and expansions of the businesses within the portfolio. Prior to this role, Mr. McMillan served as CFO for Fraser Papers Inc. and as Vice President, Finance and Secretary for Noranda Forest Inc. He is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Ottawa.
"We are excited to see Glen join our executive management team as we move forward," said Spencer Enright, Chairman of the Board of Directors, Brookfield Real Estate Services Inc. "His deep knowledge and experience across a broad spectrum of industries will enable us to accelerate our efforts to capture future growth opportunities."
"We appreciate the many contributions Kevin has made to the organization during his 12 year tenure. We thank him for his service and wish him well in his future endeavors," added Mr. Enright.
About Brookfield Real Estate Services Inc.
Brookfield Real Estate Services Inc. (TSX: BRE) is a leading provider of services to residential real estate brokers and a network of 16,206 REALTORS®1, as at March 31, 2015. It generates cash flow from fixed and variable fees derived from real estate brokers and agents operating in Canada under the Royal LePage, Via Capitale and Johnston & Daniel brands. Approximately 71 per cent of company revenue is based on fees that are fixed in nature, providing revenue stability and helping insulate cash flows from market fluctuations. The recurring fixed revenue structure combined with strong brands and a successful growth strategy position it to continue generating stable, long-term cash flows and paying monthly dividends to shareholders. For further information, please visit www.brookfieldresinc.com.
1 REALTORS® is a trademark identifying real estate licensees in Canada who are members of the Canadian Real Estate Association
SOURCE Brookfield Real Estate Services Inc.
For further information: Dan Madge, Kaiser Lachance Communications, [email protected], Tel: 647.725.2520 ext. 209