Savills chief executive Aubrey Adams is to retire next year and will be replaced by Jeremy Helsby.

The Board of Savills announced the moves this morning. Helsby will become group chief executive after the annual general meeting on 7th May next year. He is a member of the Savills Board and has been chairman of the UK and European commercial businesses for seven years. He joined Savills in 1980.

Adams is retiring after 17 years at Savills. He said he was considering retiring earlier this year at which point the board undertook a detailed succession planning exercise involving an external advisor.

Peter Smith, chairman of Savills, said: ‘Under Aubrey’s leadership Savills has become a leading global property services business with revenues growing from £24m in 1992 to over £500m in 2006. A loss of some £2.3m in 1992 has been transformed into a profit of £80m last year and the company is now a constituent of the FTSE 250.’

Smooth handover
Aubrey Adams, group chief executive, said: ‘I have hugely enjoyed the last 17 years with Savills but feel that now is the time to hand over to Jeremy, who will continue to lead the outstanding growth and success of the business in the future. I look forward to working closely with Jeremy over the next few months to ensure a smooth handover.’

Savills’ Manchester head Mark Ridley will succeed Helsby as chairman and chief executive of Savills Commercial UK.