Stephen Davis will serve as CEO of The Davis Companies, replacing his father, Jonathan Davis.

Stephen Davis joined the business 16 years ago and has served as president since 2021.

Jonathan Davis will remain active in the company as executive chairman and member of the investment committee.

“I am honored to assume this new role and to lead the opening of a new chapter in the history of our firm,” said Stephen Davis in a press release. “With the sustained support of my father, our investors and my entire team of extraordinary colleagues, I have no doubt in our ability to continue building upon the standards of excellence that have defined our work over the past five decades. We have had the good fortune of having been able to plan for, and work towards, this transition over the course of many years.”