Stephen Ross Steps Down As CEO Of Related Companies

Stephen Ross started Related Cos in 1972, armed with a $10,000 loan from his mother and a business plan focused on affordable housing. Forty years later, Ross is a billionaire (worth an estimated $3.1 billion as of March) and Related Cos is one of the largest real estate developers in the U.S., famous for projects that include New York City’s Time Warner Center and Los Angeles‘ The Century.  Now Ross, 72, is stepping aside as chief executive. His longtime lieutenant, Jeff Blau, will assume the CEO role, in an announcement that all but solidifies Blau’s status as heir apparent to the the Related Cos empire.

–  Forbes

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