Jim McShane to retire from The McShane Companies; Molly McShane elevated to CEO

Jim McShane, PE is stepping down as chief executive officer of The McShane Companies. Molly McShane, who currently serves as chief operating officer, will take over his duties effective October 1. Jim McShane made the announcement during the 2020 IREJ Real Estate Awards, during which he received the Lifetime Achievement Award.

McShane launched his career right out of college in 1968 as a structural engineer. From there, he cultivated his standing in the industry, eventually founding the widely respected McShane Construction Company in 1984. The firm’s first project was a large build-to-suit food processing plant for Mullins Food Products in Broadview, Illinois.

He formed Conor Commercial Real Estate as an evolution of McShane Development Company, originally formed in 1988. Further expansions over the years include the acquisition of The Cadence Group, with offices in Dallas, Austin and Houston, establishing Cadence McShane Construction. The firm established a foothold in California, Alabama and Wisconsin with office expansions in 2004, 2005 and 2018, respectively.

“During this time of transformation, there is no better person to lead The McShane Companies than Molly,” said Jim McShane, company founder and chairman of the board. “Molly is a proven leader with a clear business vision and the ability to bring people together. Her vision for growth and diversification is exactly what The McShane Companies needs as we enter our next chapter.”

Since joining the company in 2002, Molly McShane has spearheaded major strategic initiatives across its portfolio of services, most notably its expansion into new geographic markets and a conscious effort to create a diverse workplace. During her tenure as COO, the organization posted record growth. Before serving as COO, she was chief investment officer—and the first woman to rise to the c-suite leadership level in the firm’s history.

“It is a privilege to be part of an organization that delivers high-quality services and innovative solutions to the best clients. We are committed to developing the most talented professionals into leaders, and we will do our part to improve and give back to the communities in which we operate,” said Molly McShane. “I am truly honored to have been elected as The McShane Companies’ next CEO and am committed to upholding the principles of ethics and service that have gotten us to where we are today.”

A trailblazer in the construction and commercial real estate industries, Molly McShane was named NAIOP Chicago’s first female president in 2018. She was also a founding co-chair of WLI Chicago’s executive board. She received an undergraduate degree in marketing from Boston College and an MBA from Northwestern University’s Kellogg School of Management.