Related Cos. named Jeff T. Blau as CEO, while Bruce A. Beal Jr. was appointed president and Kenneth P. Wong chief operating officer and director of international. All three will compose the company’s executive committee.
Stephen M. Ross, Related Cos.’ executive chairman, will continue to be responsible for global business strategy and development and the execution of the 26-acre Hudson Yards development in Manhattan.
In his new position, Blau will be responsible for the strategic direction and overall management of the company, as well as the pursuit of new development opportunities, corporate acquisitions and financing activities. He has been with Related for 22 years and has served as the company president since 2000.
As president, Beal will oversee the day-to-day development process for projects across all asset classes, asset management and affordable housing initiatives. He will also play a key role in managing issues that affect the industry. Beal has been with Related since 1995 and previously served as executive vice president.
Wong will be responsible for overseeing the day-to-day administrative, corporate and business functions and the company’s national andexpansion activities. He was previously the company’s vice chairman. Prior to joining Related in 2008, Wong was president of Westfield America Inc.
According to a statement by Stephen M. Ross, “Jeff and Bruce have been my partners for over a decade. They are exceptional businessmen and great leaders with extraordinary abilities, and under our collective stewardship we have executed on a strategic growth plan that has expanded our global reach and created new business platforms that further strengthen our industry leadership position. Ken’s vast real estate, corporate and international business experience has been critical to our international expansion and in his new role he will take on increased responsibility for the operations of the company as we enter a new phase of sustained growth expansion, innovation and value creation.”