Kidder Mathews’ Chairman and CEO Jeff Lyon, who has led the firm for the past 21 years, has announced the firm will complete its three-year succession plan including the promotion of the firm’s president and COO Bill Frame to CEO on July 1, 2020.
In addition, Brian Hatcher, president of brokerage, will become the firm’s president and COO at that time. Mr. Lyon will transition out of the CEO role and will remain chairman of the board, according to a press release.
“It’s been an honor and a fulfilling career to serve as Kidder Mathews’ CEO for the past 21 years. During that time, we’ve grown from four offices in Washington to 22 offices in five states and 850 people. It’s just been phenomenal that we’ve become the largest privately-held commercial real estate firm on the West Coast,” Mr. Lyon said in a prepared statement.
“Our succession plan, including Bill Frame and our strong leadership team, gives me and our board of directors the utmost confidence in the continued execution of our strategic plan to maintain our outstanding culture, continue to grow, and to remain independent into the future. Over the past three years, Bill has done an outstanding job as president and COO, and he has proven that he is ready for this next level of leadership as CEO.”
In 1992, Mr. Lyon merged his family-owned business with Kidder Mathews. He worked as a broker and consultant and served on the Kidder Mathews board until he was named President and CEO in 1999, and then promoted to Chairman and CEO in 2006.
As CEO, Mr. Lyon has been recognized with several leadership awards including Entrepreneur of the Year by Ernst & Young, CEO of the year by Seattle Business Magazine, Lifetime Achievement Award for Commercial Real Estate Leadership by the Puget Sound Business Journal and the Power 100 Award by the Puget Sound Business Journal, which was given to the top 100 Puget Sound business leaders who have built iconic companies on a global scale.
Mr. Lyon is active in the community and the industry, serving on several boards, and he says he appreciates the concept of giving back.
In 2015, he led the Kidder Mathews board to formalize the firm’s charitable contributions by creating the Kidder Mathews Foundation. The foundation donates money and volunteer hours each year in several markets along the West Coast, to the firm’s chosen entity, Habitat for Humanity.
Under Mr. Lyon’s leadership, he has led the company to record levels of revenue, increasing from $27 million in 1999 to $212 million in 2019. Total transaction volume grew from $769 million to $9.6 billion, and the number of professional brokers grew from 73 to over 400.
In addition, the firm’s large property management division has grown significantly from 3 million square feet of managed space to 71.4 million and includes a staff of 236, and the valuation advisory division expanded to 1,679 appraisals annually and 44 advisors and staff.
The firm’s culture and success have earned it over 410 awards, including 57 for Best Place to Work, in various publications on the West Coast and nationally.
“Jeff has been a great mentor and partner. He has done a tremendous job maintaining our attractive culture and leading our firm into the position as the largest privately held firm on the West Coast that allows us to attract the top level of professional advisors and sophisticated clients,” Mr. Frame said in a prepared statement.
“I am honored to have been named CEO and eager to continue on our path of growth and success as we move the company forward.”
Mr. Frame joined Kidder Mathews 28 years ago as an office sales and leasing specialist, and he was a perennial top producer in the firm. He served on the firm’s strategic planning committee as well as the board of directors for 18 years.
He also was the managing director of the firm’s Tacoma office for 16 years prior to being tapped to become president and COO in 2016, as a part of the firm’s growth and CEO succession plan. Bill has been responsible for all operations, corporate growth, and shareholder profitability during the firm’s aggressive growth over the past three years.
He played a part in the enhancement of the firm’s operational infrastructure and added several new systems, platforms, and professional personnel to support the firm’s growth and size.
Mr. Hatcher joined Kidder Mathews in 1997 as an office leasing and sales specialist. He served on the Kidder Mathews board of directors and strategic planning committee prior to being promoted to the regional president of brokerage in 2011, overseeing Washington and Oregon.