MIAMI, FL -- Lennar Corporation, one of the nation's largest homebuilders, announced that its Board of Directors has promoted Rick Beckwitt to President from Executive Vice President, effective immediately. Stuart Miller will remain Chief Executive Officer of the company.
Stuart Miller, Chief Executive Officer of Lennar Corporation, said, "I am very pleased to have Rick become President of our company as he, along with Jon Jaffe, our Chief Operating Officer, have been instrumental in guiding our company through the challenges of the most significant homebuilding downturn of our generation. Since joining our company in 2006, Rick has worked hand-in-hand with Jon in a very successful working relationship that has returned us to profitability and positioned us for sustainable profitability going forward. Their partnership has been successful in reducing construction costs, re-engineering our product, restructuring our homebuilding divisions to achieve significant overhead savings, dissolving joint ventures, restructuring land positions and investing in new strategic opportunities."
Mr. Miller continued, "Rick has expanded his role in the corporate function to include, among other things, overall company strategy, investment opportunities with Rialto and interaction with Wall Street. I speak for the entire Lennar management team in saying that we are very excited for Rick to take on these additional responsibilities."