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. This move completes the planned succession changes initiated in 2024. Tibbetts, who has been leading the company as President and CEO since 2019, brings over two decades of leadership experience in real estate, large-scale infrastructure, and operations.
The company's lead independent director, James Carroll, stated that historically, the roles of Chairman and CEO have been separate, but the decision to combine these positions reflects the board's unanimous confidence in Tibbetts' vision and the alignment of leadership as they advance their strategy.
As part of this transition, Lou Haddad, the current Executive Chairman and former CEO, will step down from his role as Chairman effective January 1, 2026, and will remain a member of the board of directors.
Armada Hoffler, which has elected to be taxed as a REIT for U.S. federal income tax purposes, has over four decades of experience 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.
No specific financial metrics or changes in performance were included in the press release. The market has reacted to these announcements by moving the company's shares -1.49% to a price of $6.61. If you want to know more, read the company's complete 8-K report here.
