Lennar: Miller to serve as CEO as Jaffe retires Dec 31, 2025

Lennar Corporation announced a leadership transition.

Rhea-AI Filing Summary

Lennar Corporation announced a leadership transition. Jonathan M. Jaffe, Co-Chief Executive Officer and President since September 2023 and an employee since 1983, notified the Board of his decision to retire from his roles and resign as a director, effective December 31, 2025.

Following his retirement, Stuart Miller will continue as Executive Chairman and serve as Chief Executive Officer. The Board plans to reduce its size from ten members to nine members, effective December 31, 2025. The company furnished a press release as Exhibit 99.1.

Insights

Corporate governance analyst

Co-CEO retires; Miller becomes sole CEO, board shrinks to nine.

Lennar disclosed that Jonathan M. Jaffe will retire and resign from the board effective December 31, 2025. The filing states the company does not intend to seek a replacement for his position. Stuart Miller will continue as Executive Chairman and assume CEO responsibilities alone.

The board will be reduced from ten to nine members, also effective December 31, 2025. This consolidates leadership under Miller and modestly streamlines governance. Actual operational impact depends on execution under the single-CEO structure and the redistribution of Jaffe’s responsibilities.

8-K Event Classification

3 items: 5.02, 7.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What leadership change did Lennar (LEN) announce?

Jonathan M. Jaffe will retire as Co-CEO and President and resign from the Board, effective December 31, 2025. Stuart Miller will continue as Executive Chairman and CEO.

When is Jonathan M. Jaffe’s retirement effective at Lennar (LEN)?

His retirement and board resignation are effective December 31, 2025.

Who will lead Lennar (LEN) after Jaffe’s retirement?

Stuart Miller will continue as Executive Chairman and serve as Chief Executive Officer.

Will Lennar (LEN) replace the retiring Co-CEO role?

The company does not intend to seek a replacement for Mr. Jaffe’s position at this time.

How will Lennar’s (LEN) Board size change?

The Board plans to decrease from ten members to nine members, effective December 31, 2025.

Did Lennar (LEN) issue a press release about the change?

Yes. A press release dated November 14, 2025 was furnished as Exhibit 99.1.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/14/2025 - 05:25 PM Learn about SEC filing dates

LENNAR CORP /NEW/0000920760false00009207602025-11-122025-11-120000920760us-gaap:CommonClassAMember2025-11-122025-11-120000920760us-gaap:CommonClassBMember2025-11-122025-11-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

November 12, 2025

Date of Report (Date of earliest event reported)

LENNAR CORPORATION

(Exact name of registrant as specified in its charter)

Delaware			1-11749			95-4337490
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

5505 Waterford District Drive, Miami, Florida 33126

(Address of principal executive offices) (Zip Code)

(305) 559-4000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class A Common Stock, par value $.10			LEN			New York Stock Exchange
Class B Common Stock, par value $.10			LEN.B			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 12, 2025, Jonathan M. Jaffe, who joined Lennar Corporation (the “Company”) in 1983 and who has served as Co-Chief Executive Officer and President of the Company since September 2023, notified the Board of Directors (the “Board”) of the Company of his decision to retire as Co-Chief Executive Officer and President of the Company and accordingly, to resign as a director of the Board of the Company, in each case, effective as of December 31, 2025. The Company does not intend to seek a replacement for Mr. Jaffe’s position at this time. In connection with Mr. Jaffe’s resignation as a director on the Board, the Board intends to reduce its size from ten members to nine members, effective as of December 31, 2025.

Stuart Miller, currently the Executive Chairman and a Co-Chief Executive Officer of the Company, will continue as the Company’s Executive Chairman and Chief Executive Officer following Mr. Jaffe’s retirement.

Item 7.01. Regulation FD Disclosure.

A copy of the press release announcing Mr. Jaffe’s retirement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 7.01.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is filed as part of this Current Report on Form 8-K.

Exhibit No.			Description of Document
99.1			Press release issued by Lennar Corporation on November 14, 2025.
104			Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 14, 2025			Lennar Corporation
			By:			/s/ Diane Bessette
			Name:			Diane Bessette
			Title:			Vice President and Chief Financial Officer