Lennar CEO Jon Jaffe to retire

Photo: Lennar

Jaffe, who is also stepping down from his role on the board, is to retire on December 31 after 42 years with the company.

He joined Lennar in 1983 as an assistant superintendent and has gone on to hold a series of senior roles, contributing to the company’s national expansion, including significant growth in California.

His tenure also included overseeing the integration of major acquisitions and helping guide the business through events such as Hurricane Andrew and the 2008 financial crisis.

Following his retirement, Lennar said co-CEO Stuart Miller would continue as CEO, with no plans announced for a direct replacement for Jaffe.

Commenting on Jaffe’s departure, Miller said he has been “a driving force behind Lennar’s success.”

He said: “His dedication, work ethic, and operational focus have provided mentorship and shaped our company into what it is today. Throughout his tenure, Jon has been a true warrior for Lennar and a trusted partner to me and to many across the business.

He added that his retirement reflects the need for the company to “remake our organizational and cost structure to enable us to build more affordable and attainable homes.”

Jaffe said it had been “a privilege and a passion” to work at Lennar for more than four decades. He added that stepping down would allow the company to streamline leadership and create further efficiencies to support housing affordability, noting he remains optimistic about Lennar’s future.

Lennar said the leadership transition aligns with its strategy to move toward a leaner, more efficient, technology-driven organisation focused on improving housing affordability and expanding access to homeownership.

The announcement follows a series of senior leadership changes revealed in August, when Lennar said general counsel and vice president Mark Sustana would retire in September 2025, to be succeeded by Katherine Lee Martin as chief legal officer.

The company also confirmed the retirement of chief operating officer Fred Rothman, who will not be replaced.