On July 14, 2023, Lennar Corporation announced that Rick Beckwitt, who joined the Company in 2006 and who has served as a Co-Chief Executive Officer and Co-President of the Company since November 2020, has decided to retire as a Co-Chief Executive Officer and Co-President and resign as a member of the Board of Directors of the Company, effective September 1, 2023. The Company has appointed Stuart Miller as a Co-Chief Executive Officer of the Company to succeed Mr. Beckwitt, effective September 1, 2023. Mr. Miller will continue to serve as the Company’s Executive Chairman concurrently with his appointment as a Co-Chief Executive Officer.

Jon Jaffe, currently a Co-Chief Executive Officer and Co-President of the Company, will continue as the Company’s President and a Co-Chief Executive Officer, effective September 1, 2023. Mr. Miller, 65, who will continue as Executive Chairman and will become a Co-Chief Executive Officer with Mr. Jaffe, has worked with the Company for 40 years and has served as the Company’s Executive Chairman since April 2018.