Newmark Group (NMRK) announced that Executive Chairman Howard W. Lutnick has been nominated by President Donald J. Trump to serve as the 41st U.S. Secretary of Commerce. Upon Senate confirmation, Lutnick will step down from his positions at Cantor, BGC, and Newmark, and divest his interests in these companies to comply with government ethics rules. The divestment is not expected to involve open market share sales. Barry Gosin will continue as CEO, with no changes expected to Newmark's existing corporate structure.