Michael Marx is standing down from his role as chief executive after 21 years on the board to become a non-executive director
His successor, 42-year-old Matthew Weiner, has been a director for 10 years.
Richard Upton, formerly chief executive of Cathedral, which Development Securities acquired last year, becomes deputy chief executive.
Last month Development Securities secured consent for an 18,500 square foot leisure development on the largest of the three remaining sites that it owns next to Broughton shopping centre in Chester.
In Manchester, in partnership with Property Alliance Group, it secured planning permission for a 27-storey tower block of 172 apartments in the city centre.
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