Lennar Corporation (NYSE: LEN and LEN.B) has announced the retirement of Jonathan Jaffe, co-CEO and President, effective December 31, 2025, after a distinguished 42-year career with the company. Stuart Miller will continue to serve as the executive chairman and chief executive officer, with no plans to replace Jaffe's role.
Jaffe joined Lennar in 1983 as an assistant superintendent and rose through the organization to become co-CEO and President. Under his leadership, Lennar experienced national expansion, notably in California, and successfully integrated landmark acquisitions across the country.
The retirement of Jaffe reflects the company's need to remake its organizational and cost structure to enable the building of more affordable and attainable homes. This transition sets the stage for the company’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 the dream of homeownership.
This announcement comes as Lennar aims to streamline leadership at the top and continue creating efficiencies in its management structure to promote affordability.
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up, and active adult homes primarily under the Lennar brand name. Lennar's financial services segment provides mortgage financing, title and closing services, primarily for buyers of Lennar's homes. Lennar's 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 more information, read the company's full 8-K submission here.
