Armada Hoffler, a real estate investment trust (REIT), has announced the appointment of Shawn J. Tibbetts as the chairman of the board of directors, effective January 1, 2026. Tibbetts, who has been leading the company as president and chief executive officer since 2019, brings more than two decades of leadership experience in real estate and large-scale infrastructure.
The board of directors unanimously voted for Tibbetts' appointment, completing the last phase of planned succession changes initiated in 2024. This move reflects the board's confidence in Tibbetts' vision and leadership, as he has demonstrated exceptional strategic focus and strengthened the company's culture and foundation.
As part of this transition, Lou Haddad, the current executive chairman and former chief executive officer, will step down from his role as chairman effective January 1, 2026, but will remain a member of the board of directors.
The decision to combine the roles of chairman and CEO at this time is aimed at providing unified direction and enhanced efficiency as the company executes its long-term strategic plan. The board believes that this unified leadership structure will maintain strong governance and position Armada Hoffler for growth and shareholder value creation.
Armada Hoffler, founded in 1979, focuses on developing, building, acquiring, and managing high-quality office, retail, and multifamily properties primarily in the mid-Atlantic and southeastern United States. Additionally, the company provides general construction and development services to third-party clients.
The announcement reflects the company's commitment to disciplined growth and shareholder value, with a focus on strategic planning to drive long-term value for shareholders and sustain the company's success into the future. Following these announcements, the company's shares moved -1.49%, and are now trading at a price of $6.61. Check out the company's full 8-K submission here.
