Stiles appointed Ken Stiles as Co-CEO, a major step forward in the company’s plan for him to take over as sole CEO next year.

Stiles, a Fort Lauderdale-based full service real estate development firm, has announced changes in the firm’s leadership succession plan.

Kenneth Stiles was appointed Co-CEO, and he will work alongside his father, Chairman and CEO Terry Stiles. Ken Stiles joined the company 11 years ago and most recently served as executive vice president, in which he managed ongoing communications with partners and worked directly with the investment team to identify new business opportunities.

“This was a major step forward in our succession plan, which we have been developing over the past decade and announced publicly last April. We have implemented a conservative growth strategy across the Southeast that is consistent with our goal in becoming a 100-year old company. Our senior management team is deeply committed to our vision and business strategy and we are confident this plan will allow us to continue on that path and grow for decades to come,” said Terry Stiles.

Terry Stiles, who has been at the helm of the company for more than 45 years, will transition out of the CEO role by mid-2017, and Ken Stiles will succeed him. Terry Stiles will remain board chairman and continue to play an active role in the company’s overall strategic direction.

“To echo my father, I believe the diversity of our business structure combined with our core values is the key to our success,” said Ken Stiles. “I look forward to continuing on that course.”

At the same time, Scott MacLaren, former president of Stiles North Carolina operations, has been appointed president of Stiles. He will be replacing Doug Eagon, who has transitioned to vice chairman of the company. Eagon will work closely with the Board and MacLaren to ensure a smooth transition and implementation of Stiles’ long-term strategy.

Stiles is a full-service commercial real estate firm and its services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, and has a development office in Charlotte, NC. Stiles owns a portfolio of more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States.