- Jerry Speyer had been co-CEO of New York-based developer
- Firm's properties include Manhattan's Rockefeller Center
Rob Speyer, the 45-year-old son of Tishman Speyer Properties LP co-founder Jerry Speyer, will become the real estate firm’s sole chief executive officer as his father remains chairman.
Jerry Speyer, 75, had been co-CEO with his son for seven years, according to an internal e-mail sent to company staff worldwide. The move “is a natural progression in the leadership of the firm and one that also reflects the reality of the way we have been running the business,” according to the e-mail. Bud Perrone, a spokesman for the New York-based company, confirmed the contents of the e-mail. The changes are effective immediately, he said.
Tishman has interests in properties in 10 countries on four continents, including Rockefeller Center and the Chrysler and MetLife buildings in Manhattan, Frankfurt’s Messeturm and Crystal Plaza in Shanghai. Rob Speyer took the lead in 2006 when the company managed the $5.4 billion acquisition of Stuyvesant Town and Peter Cooper Village, later given up to lenders after the complex’s value crashed in the financial crisis of 2008.
Tishman’s properties are worth more than $73 billion, and it employs more than 1,550 people.