Mike Slade will become chairman. The moves take effect at the company’s next annual general meeting July 2016, at which time Mr Slade will have served 30 years as chief executive.
It was Mike Slade that led the reinvention of the business. The Helical Bar & Engineering Company Ltd was incorporated in 1919 to make and sell reinforcing steel for the construction industry. After running into financial difficulties, the steel reinforcement business was sold at the end of 1986 and Helical Bar refocused on property development.
Gerald Kaye has been on the board of Helical Bar since 1994. Most recently he has been responsible for the developments at Barts Square and The Bower, two major mixed-use London schemes. He is a past president of the British Council for Offices and is a trustee of The Prince’s Regeneration Trust.
Of his successor, Mike Slade said: "Gerald is one of the most talented and experienced professionals within the property business with fantastic vision. He has delivered numerous highly profitable schemes during his career with Helical which 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 whilst also being delighted that I will continue to be part of the Helical story in my new role."
Gerald Kaye said: "Mike and I have worked together for over 21 years and I am honoured to succeed him as Helical's new CEO and thank the board for its support."