Blau moves into the CEO slot after
12 years as president of Related.

(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-Related Cos., developer of Time Warner Center and the upcoming Hudson Yards megaproject, said Friday that company president Jeff Blau is succeeding founder Stephen Ross as CEO, with Ross now taking the title of executive chairman. Bruce A. Beal Jr. in turn is succeeding Blau as president, while Kenneth Wong becomes COO. The four men will comprise Related’s executive committee.

In a statement, Ross says the company’s “vertical integration, talented team of executives and employees and access to capital offers nearly unlimited potential for growth.” He adds that given the strength of the management team, “we will be able to further optimize our competitive capabilities, continue to grow the platform and expeditiously capitalize on new opportunities.”

Ross will continue to be responsible for global business strategy and development and maintain his focus on the 26-acre Hudson Yards project on Manhattan’s Far West Side, the company says. For his part, Blau will be responsible for the company’s strategic direction, overall management, financing activities, and pursuing new development opportunities and corporate acquisitions. He had been president of the company since 2000.

Formerly EVP, Beal’s bailiwick will now be the day-to-day development process for projects across all assets classes, asset management and Related’s affordable housing initiatives, while continuing to play a key role in managing issues affecting the industry. Wong will oversee the day-to-day administrative, corporate and business functions, along with the company’s national and international expansion activities.