Mike Slade, one of the best-known characters in the UK property industry, is stepping down from his position as chief executive of Helical Bar.
He will take on the role as non-executive chairman and will be succeeded by Gerald Kaye.
Slade has been at the helm for 30 years. Known for his love of yachts, his work for industry charity LandAid and his outspoken nature, he has also steered the company through numerous market cycles and repositioned the company in recent years from being regionally focused to one that focuses on London’s outer villages.
The change will take effect after the company’s annual general meeting in July next year.
Nigel McNair Scott, Helical’s non-executive chairman, and Andy Gulliford, a non-executive director since 2006, have also announced they intend to stand down at the 2016 AGM.
Helical also plans to appoint up to two additional non-executive directors and following the 2016 AGM, the board expects to consist of a non-executive chairman, four executive directors and five independent non-executive directors.
Mike Slade, chief executive of Helical, said: “Gerald is one of the most talented and experienced professionals within the property business and has fantastic vision. He has delivered numerous highly profitable schemes during his career with Helical that have been integral to the company’s delivery of strong shareholder returns. As a significant shareholder myself, I expect Helical to thrive under his stewardship while also being delighted that I will continue to be part of the Helical story in my new role.
“I would like to add my thanks to Nigel for being my business partner and, more importantly, close confidant and friend over the past 30 years, and also to Andy, for his advice, wisdom and support during his 10 years on the board of Helical.”
Gerald Kaye, development director of Helical, added: “Mike and I have worked together for more than 21 years and I am honoured to succeed him as Helical’s new chief executive and thank the board for its support. I look forward to leading Helical during exciting times for the company and to working with my fellow executive directors, Tim Murphy, Matthew Bonning-Snook and Duncan Walker as well as the rest of the top-class Helical team.”
Richard Gillingwater, senior independent director and member of Helical’s nominations committee, said: “The board appreciates the significance of the changes taking place at Helical but also recognises the importance of continuity given the unrivalled performance of the company over the past 30 years. Under Mike’s leadership, Helical is blessed with a depth of talent. Gerald knows the business inside out and has a strong track record of delivering profits throughout the property cycle. The board was unanimous in its decision to appoint Gerald.
“While it is appropriate that Mike should step down as chief executive after a long and successful tenure it is also right and in the best interest of the company and its shareholders that he should become its next chairman when Nigel McNair Scott stands down. The board wishes to thank Mike for his outstanding contribution to the business during his long tenure, and at the same time thank Nigel and Andy for their commitment to the board and their support over the years.”
