Global real estate firm Savills has announced that Simon Shaw, its long-serving chief financial officer, will succeed Mark Ridley as CEO on January 1, 2026, marking a major leadership transition after Ridley’s nearly three-decade tenure with the company.

Ridley, who has served as CEO since 2019 and spent 41 years in the UK real estate sector, will retire at the end of 2025 but stay on as a senior adviser, according to Savills Chair Stacey Cartwright. Shaw, who joined Savills as CFO in 2009, also chairs Grosvenor Hill Ventures, the firm’s proptech-focused private equity arm, and previously held executive roles in the medical tech sector.

Savills reported £2.4 billion ($2.7B) in global revenue for 2024—a 7% increase driven largely by transactional advising. However, its investment management division, overseen by Shaw, saw an 11% revenue dip, and assets under management declined slightly to £21.7 billion, impacted by valuation shifts and fundraising activity.

In parallel with the CEO transition, Savills also named Amy Kaufman Brendler and Jon Glass as co-leads of its Washington, D.C. office, replacing veteran executive Tom Fulcher. The firm is now actively searching for Shaw’s CFO replacement ahead of its May 14 annual general meeting.

The appointment signals Savills’ continued focus on leadership continuity, digital investment, and adapting its strategy amid shifting market dynamics.