Lennar co-CEO Jon Jaffe to retire after 42 years with homebuilder

Lennar Corporation (NYSE: LEN) announced that co-Chief Executive Officer and President Jon Jaffe will retire effective December 31, 2025, after 42 years with the homebuilder. Jaffe will also step down from the company's board of directors.

Following Jaffe's retirement, Stuart Miller will continue as Executive Chairman and serve as Chief Executive Officer. The company stated it has no plans to replace Jaffe's role.

Jaffe joined Lennar in 1983 as an assistant superintendent in Tampa and advanced through the organization over four decades. The company said his leadership was instrumental in national expansion efforts, particularly in California, and in integrating acquisitions across the country.

"Jon has been a driving force behind Lennar's success," Miller said in the announcement. "His dedication, work ethic, and operational focus have provided mentorship and shaped our company into what it is today."

Miller indicated that Jaffe's retirement timing reflects "the need for Lennar to remake our organizational and cost structure to enable us to build more affordable and attainable homes."

Jaffe stated that his departure allows Lennar to "streamline leadership at the top and continue creating efficiencies in our management structure to promote affordability."

The Miami-based company described the transition as setting the stage for its evolution into what it called "a leaner, more efficient, technology-driven enterprise focused on building a healthier housing market."

Lennar, founded in 1954, operates as one of the nation's homebuilders, constructing homes under the Lennar brand name. The company also provides mortgage financing and title services through its Financial Services segment and develops multifamily rental properties through its Multifamily segment.

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