BrightView Announces CEO Transition
May 04 2023 - 6:20AM
Business Wire
BrightView Holdings, Inc. (NYSE: BV) (the “Company” or
“BrightView”), the leading commercial landscaping services company
in the United States, today announced Andrew Masterman will step
down from his role as President and Chief Executive Officer (CEO)
and member of the Board of Directors, effective May 31, 2023. Jim
Abrahamson, who has served on BrightView’s Board since 2015, will
serve as interim President and CEO until a successor is in place.
Masterman will serve as an advisor for one month to ensure a smooth
transition. The Company’s Board of Directors has initiated a search
for a successor in partnership with a leading executive search
firm.
“On behalf of the Board and entire BrightView team, I want to
thank Andrew for the contributions he has made to the Company,”
said Paul Raether, chairman of BrightView’s Board of Directors.
“Today, BrightView is the leading commercial landscape design and
services company with a recognized brand and high-quality team. Its
market-leading position provides a solid foundation for future
growth and creates a unique opportunity to enhance service for
customers.”
Masterman joined BrightView in 2016 and successfully led the
company’s initial public offering in 2018. Under his leadership,
BrightView demonstrated growth through a series of strategic
acquisitions, modernized its technology and finance infrastructure,
professionalized the sales organization, expanded omni-channel
marketing capabilities and achieved the best safety record in the
company’s history.
“It has been an honor to serve as BrightView’s CEO and I’m proud
of what the team has accomplished during my tenure. Together, we’ve
built a top-tier organization with an expansive national
footprint,” said Masterman. “I look forward to working with Jim to
ensure a smooth transition and will continue to watch BrightView’s
progress and future success.”
Raether added: “We have full confidence in Jim’s ability to
continue to execute on BrightView’s strategy while we search for a
new CEO to lead the company into its next phase and unlock value.
Jim brings extensive knowledge of BrightView and the industry, as
well as over 30 years of management experience in senior leadership
and board of director roles with leading, large public and private
companies in dynamic environments.”
“I’m honored to step in as interim CEO of BrightView, a company
that I know very well and respect deeply,” said Abrahamson. “I look
forward to working closely with our talented management team to
continue to execute and build on our strategy and to ensure
continuous performance improvement for our shareholders while we
deliver the best service in the industry to our valued
clients.”
Jim Abrahamson Biographical Details
Abrahamson previously served as CEO and as Chairman of
Interstate Hotels & Resorts, the leading global hotel
management company with a portfolio of approximately 500 hotels and
30,000 employees from June 2011 until its sale to Aimbridge
Hospitality in October 2019. Prior to joining Interstate,
Abrahamson held senior leadership positions with InterContinental
Hotels Group, Hyatt Corporation, Marcus Corporation and Hilton
Worldwide. Jim presently serves in public company and private
company board roles, which, in addition to BrightView, includes
currently serving as Independent Board Chair of VICI Properties,
Inc., (NYSE: VICI) a leading REIT comprised of large-scale
experiential focused destination resort and gaming facilities since
its inception in 2017, as well as several other private company
boards. He has also previously served on public company boards
including as an independent director of CorePoint Lodging Inc. and
as an independent director of LaQuinta Holdings and as an executive
director of the board of Intercontinental Hotels Group. He holds a
degree in Business Administration from the University of
Minnesota.
About BrightView
BrightView Holdings, Inc. (NYSE: BV), the nation’s largest
commercial landscaper, proudly designs, creates, and maintains the
best landscapes on Earth and provides the most efficient and
comprehensive snow and ice removal services. With a dependable
service commitment, BrightView brings brilliant landscapes to life
at premier properties across the United States, including business
parks and corporate offices, homeowners' associations, healthcare
facilities, educational institutions, retail centers, resorts and
theme parks, municipalities, golf courses, and sports venues.
BrightView also serves as the Official Field Consultant to Major
League Baseball. Through industry-leading best practices and
sustainable solutions, BrightView is invested in taking care of our
team members, engaging our clients, inspiring our communities, and
preserving our planet. Visit BrightView Website and connect with us
on Twitter, Facebook, and LinkedIn.
Forward-Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” Forward-looking statements are based
on BrightView’s current expectations and assumptions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
may differ materially from those contemplated by the
forward-looking statements, which are neither statements of
historical fact nor guarantees or assurances of future performance.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements can be
found under the caption “Risk Factors” in our most recent annual
report on Form 10-K filed with the SEC, as such risk factors may be
updated from time to time in our periodic filings with the SEC,
which are accessible on the SEC’s website on www.sec.gov. Any
forward-looking statement in this release speaks only as of the
date of this release. BrightView undertakes no obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except as may be required by any applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230503006054/en/
Investors Faten Freiha, Vice President of Investor
Relations (484) 567-7148 Faten.Freiha@brightview.com
Media David Freireich, Vice President of Communications
& Public Affairs (484) 567-7244
David.Freireich@brightview.com
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