BrightView announces CEO transition

BrightView Holdings, Inc. (NYSE: BV) announced Andrew Masterman will step down from his role as president and 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.”

Abrahamson previously served as CEO and as chairman of Interstate Hotels & Resorts. Prior to joining Interstate, Abrahamson held senior leadership positions with InterContinental Hotels Group, Hyatt Corporation, Marcus Corporation and Hilton Worldwide. He 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), as well as several other private company boards. He holds a degree in Business Administration from the University of Minnesota.

The post <strong>BrightView announces CEO transition</strong> appeared first on SportsField Management.