The founder of Gyrodyne, Peter James Papadakos (1914-1992), was the pioneer who perfected the American Coaxial helicopter design.

Upon purchasing the assets of the bankrupt Bendix Helicopter company, Mr. Papadakos founded Gyrodyne Company of America in 1946, to "Investigate advanced helicopter designs and development with the goal of producing a better rotary wing aircraft than any other being offered at that time".

On June 14, 1966, he formed the Flowerfield Properties wholly-owned subsidiary of the Gyrodyne Company for the purpose for holding certain assets of the company's property, investments and its limited partnership in the development of a 3,500 acre orange grove in West Palm Beach, Florida.

Stephen V. Maroney

President & CEO

Stephen V. Maroney was initially engaged by the Company as an outside consultant in June 1996 and elected to the Board of Directors in July of that same year. Mr. Maroney is the former President of Extebank, a Long Island based commercial bank with a presence in Nassau and Suffolk Counties and New York City. Prior to that appointment, he served as Extebank’s Chief Financial Officer. Mr. Maroney was appointed to the position of President, CEO and Treasurer by the Gyrodyne Board of Directors on March 14, 1999. His career on Long Island spans a period of over 40 years and includes involvement in numerous civic, charitable and professional organizations.

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