Homebuilder Lennar’s co-CEO is retiring in September

Homebuilder Lennar Corp.
LEN,
+2.43%
on Friday said that Rick Beckwitt has decided to retire as a co-CEO and co-president of the company and step down from its board. His retirement takes hold on Sept. 1. As Beckwitt departs, Stuart Miller, Lennar’s executive chairman, will stay on in that role and also step in as one of the company’s co-CEOs. Jon Jaffe is Lennar’s other co-CEO. Beckwitt’s retirement will follow a 17-year career with the company, a period during which it navigated the housing bust and Great Recession. Shares of Lennar were unchanged after hours on Friday.