Lennar Corporation has recently announced the retirement of Jonathan Jaffe, the co-CEO and President of the company, effective December 31, 2025. Jaffe, who has had a distinguished 42-year career with the company, will also step down from his role as a director of the board. Following his retirement, Stuart Miller will continue to serve as the executive chairman and take on the role of chief executive officer of Lennar, with no plans to replace Jaffe's position.
Jaffe joined Lennar in 1983 and has played a pivotal role in the company's success, particularly in guiding its national expansion, integrating landmark acquisitions, and steering the company through challenging times such as hurricane Andrew and the Great Recession. According to Mr. Miller, Jaffe's retirement reflects the need for Lennar to reshape its organizational and cost structure to enable the construction of more affordable homes. Jaffe, on the other hand, expressed his excitement about Lennar's future and the company's ongoing transformation.
This transition marks the beginning of Lennar's next phase, a strategic evolution into a leaner, more efficient, technology-driven enterprise focused on 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 Lennar's homes and originates mortgage loans secured by commercial real estate properties throughout the United States. Furthermore, Lennar's multifamily segment is a nationwide developer of high-quality multifamily rental properties, and LenX drives Lennar's technology, innovation, and strategic investments. 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. If you want to know more, read the company's complete 8-K report here.
