Related Cos., developer of Manhattan’s Time Warner Center, named Jeff Blau its chief executive officer, replacing founder Stephen Ross, who will remain executive chairman.
Blau, 44, has worked at New York-based Related for 22 years and has been president since 2000. Bruce Beal Jr., 42, previously executive vice president, will become president, the company said in a statement today. The changes are effective immediately, said Joanna Rose, Related’s spokeswoman.
“Jeff and Bruce have been my partners for over a decade,” Ross, 72, said in the statement. “They are exceptional businessmen and great leaders with extraordinary abilities.”
As executive chairman, Ross is responsible for global business strategy and overseeing development of the 26-acre (10-hectare) Hudson Yards project on Manhattan’s far west side, according to the statement.
Related has a multimillion-dollar pipeline of projects under development in such cities as Chicago, Boston, Abu Dhabi and Riyadh, Saudi Arabia, according to the statement.