Mary Ricks is to retire as president of Kennedy Wilson after 33 years.
Ricks said she will leave the post and step down as a board director but will continue to serve as a consultant to aid in the transition.
As part of the reshuffle, former executive vice president Matt Windisch has been promoted to president, while former head of UK Mike Pegler, who has been with Kennedy Wilson for nearly a decade, will assume a new role as president of Kennedy Wilson Europe.
“Leading the teams at Kennedy Wilson, both in the US and Europe, has been a remarkable journey and a true honour,” said Ricks.
“Launching the EU business, assembling a stellar team there, taking it public, and then having the privilege to serve as KW Europe’s president and CEO are among the milestones I’m proud to have achieved.”
She added that she was “especially proud” to have spearheaded initiatives including Kennedy Wilson Women and championing DE&I initiatives across the business.
“More than anything, it’s the deep relationships forged over decades that I cherish the most and am immensely grateful for.”
Chair and chief executive William McMorrow said: “As my trusted partner and dear friend, Mary has made a significant impact on me personally and has been instrumental in growing our company from an entrepreneurial start-up into a global real estate leader.”
He added: “She is a fearless leader with a team-first attitude, and we will miss her greatly.”
New president Windisch joined the company 17 years ago and has spearheaded strategic planning, public markets activities and overseen Kennedy Wilson’s expanding credit business, which has grown to $7bn in total gross commitments.
Windisch has helped raise more than $15bn for the company and its various platforms, and he will continue to maintain many of the company’s key investor and banking relationships as his responsibilities expand to overseeing the commercial investment team and third-party capital raising.
McMorrow added: “Our senior management team has been working and investing together for nearly 20 years and we have successfully grown the company from approximately $6bn to $25bn in assets under management since going public in 2009.
“I am extremely confident in the strength of leadership across all areas of our business, and the depth of our collective expertise. Our team is energised about the next chapter at Kennedy Wilson and focused on tackling the new opportunities we expect will arise in the near term.”
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