Fort Lauderdale-based commercial real estate firm Stiles Corp. is implementing a leadership succession plan that will separate the roles of chairman and chief executive office and transition leadership from father to son.

Founder Terry Stiles, who headed the company for nearly 45 years, will leave as CEO by mid-2017. He will remain as chairman with an active role in the company’s overall strategic direction. His son Ken, currently executive vice president, will take over as CEO.