Lennar Corporation (NYSE: LEN and LEN.B) has recently announced the retirement of Jonathan Jaffe, the co-chief executive officer and president, effective December 31, 2025, after a distinguished 42-year career with the company. Following his retirement, Stuart Miller will continue to serve as the executive chairman and will take on the role of chief executive officer, without plans to replace Jaffe's position.
Jaffe joined Lennar in 1983 as an assistant superintendent and rose through the organization to become co-CEO and president, playing a pivotal role in the company's success. His retirement is seen as a strategic move to streamline leadership and promote affordability in the company's management structure.
This transition marks the beginning of the company's next phase, focusing on becoming a leaner, more efficient, technology-driven enterprise geared toward building a healthier housing market and helping more families achieve homeownership.
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The company builds affordable, move-up, and active adult homes primarily under the Lennar brand name. Additionally, Lennar's financial services segment provides mortgage financing, title and closing services primarily for buyers of their homes, and their multifamily segment is a nationwide developer of high-quality multifamily rental properties. As a result of these announcements, the company's shares have moved -0.11% on the market, and are now trading at a price of $121.11. For the full picture, make sure to review LENNAR CORP /NEW/'s 8-K report.
