Armada Hoffler (NYSE: AHH) has announced the appointment of Shawn J. Tibbetts as the chairman of the board of directors, effective January 1, 2026, while he continues to serve as the president and chief executive officer. This follows the completion of the planned succession changes initiated in 2024.
Tibbetts, who joined the company in 2019, has been credited with strengthening the company's high-quality assets and driving operational excellence. His leadership has been characterized by strategic planning to drive growth, strong governance, and disciplined execution to increase long-term value for shareholders.
The decision to combine the roles of chairman and CEO reflects the board's confidence in Tibbetts' vision and the alignment of leadership as the company advances its strategy. This unified leadership structure is expected to provide enhanced efficiency as the company executes its long-term strategic plan, while maintaining strong governance.
As part of this transition, Lou Haddad, the current executive chairman and former CEO, will step down from his role as chairman but will remain a member of the board of directors, providing ongoing access to his extensive institutional knowledge.
Armada Hoffler, a vertically integrated, self-managed real estate investment trust with over four decades of experience, primarily operates in the mid-Atlantic and southeastern United States, developing, building, acquiring, and managing high-quality office, retail, and multifamily properties. The company also provides general construction and development services to third-party clients.
The company's decision to appoint Shawn J. Tibbetts as the chairman of the board reflects its commitment to a unified leadership structure and its confidence in his ability to drive the company's growth and create shareholder value. Following these announcements, the company's shares moved -1.49%, and are now trading at a price of $6.61. For the full picture, make sure to review Armada Hoffler Properties's 8-K report.
