MIAMI, Nov. 3, 2020 /PRNewswire/ -- Lennar
Corporation (NYSE: LEN and LEN.B), one of the nation's leading
homebuilders, today announced that its Board of Directors has
elected Jon Jaffe as Co-Chief
Executive Officer and Co-President of Lennar, titles he will now
share with Rick Beckwitt.
Stuart Miller, Executive Chairman
of Lennar, said, "Today I am very pleased to recognize the
extraordinary contribution that Jon
Jaffe has made to Lennar's leadership position in the
homebuilding industry. I have noted repeatedly that Jon and
Rick have operated consistently as partners in the oversight of our
homebuilding platform. Today we proudly recognize and
formalize that partnership."
Mr. Miller continued, "Jon has driven operational excellence at
the same time that he has helped shape our strategic direction and
our corporate communication. Going forward, Rick, Jon and I
will continue to execute our business plan and strategy with the
same excellence and shared responsibilities that we have to
date."
Rick Beckwitt, Co-Chief Executive
Officer and Co-President of Lennar, said, "Jon's promotion to
Co-CEO and Co-President reflects to the outside world the way that
we have operated internally since I arrived at Lennar over 14 years
ago. This partnership has worked seamlessly and driven
Lennar's performance as we have focused on generating cash flow,
driving returns and enhancing shareholder value as Lennar has
grown."
Mr. Beckwitt added, "Specifically, Jon's collaborative approach
and 'whatever it takes' attitude is exactly why our partnership
works on a day-to-day basis and why today's announcement is an
important structural reflection for our company. Together with our
Board of Directors, and the entire Lennar team, Stuart and I
congratulate Jon on this well-deserved promotion and
recognition."
Mr. Beckwitt, who is a member of the Lennar Board of Directors,
had been Lennar's Chief Executive Officer since 2018, and has
worked with Lennar in various positions for 14 years. Mr. Beckwitt
has been involved in the homebuilding and construction industry for
more than 30 years. Prior to joining Lennar, he was on the Board of
Directors of D.R. Horton, Inc., and held various executive officer
positions with the company, including President.
Mr. Jaffe, who is a member of the Lennar Board of Directors, had
been Lennar's President since 2018, and has worked with Lennar in
various positions, including Chief Operating Officer, for more than
30 years. Mr. Jaffe led the Company's expansion into
California in 1995 and is
responsible for Lennar's dominant position in California and the Western United States.
About Lennar
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 and, through LMF Commercial, originates mortgage
loans secured primarily by commercial real estate properties
throughout the United States.
Lennar's Multifamily segment is a nationwide developer of
high-quality multifamily rental properties. LENX drives
Lennar's technology, innovation and strategic investments. For more
information about Lennar, please visit www.lennar.com.
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SOURCE Lennar Corporation