MIAMI, Sept. 20,
2023 /PRNewswire/ -- Lennar Corporation (NYSE: LEN
and LEN.B), one of the nation's leading homebuilders, announced
today that Lennar's Board of Directors has increased the size of
its Board to 11 members and has elected Dacona Smith to serve as a
member of the Board of Directors, effective September 22, 2023, for a term extending until
Lennar's 2024 Annual Meeting of Stockholders.
Mr. Smith retired from Walmart earlier this year after a career
there spanning over 30 years. Mr. Smith began as an hourly
associate at a Walmart store and eventually held several
executive positions, including roles in store management, regional
management, and corporate operations. Most recently, he served as
Executive Vice President and Chief Operations Officer, Walmart
U.S. Stores. At Walmart, Mr. Smith developed a reputation for
driving strategies for operational efficiency, enhancing the
customer experience, and ensuring high standards of integrity,
execution, and leadership.
Stuart Miller, Executive Chairman
and Co-Chief Executive Officer of Lennar, said, "We look forward to
Dacona joining the Lennar Board at a time when our Company is
adapting to rapid and dynamic market changes. Dacona's unique
experience as a leader in the world's largest retailer makes him
particularly well qualified to assist Lennar in our continuing
quest for improvement in execution of our core strategies:
production efficiency, higher inventory turns, higher cash flow,
strong margins and return on assets."
About Lennar
Lennar Corporation, founded in 1954, is
one of the nation's leading builders of quality homes for all
generations. Lennar builds affordable, move-up and active adult
homes primarily under the Lennar brand name. Lennar's Financial
Services segment provides mortgage financing, title and closing
services primarily for buyers of Lennar's homes and, through LMF
Commercial, originates mortgage loans secured primarily by
commercial real estate properties throughout the United States. Lennar's Multifamily
segment is a nationwide developer of high-quality multifamily
rental properties. LENX drives Lennar's technology, innovation
and strategic investments. For more information about Lennar,
please visit www.lennar.com.
Contact:
Ian Frazer
Investor Relations
Lennar Corporation
(305) 485-4129
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SOURCE Lennar Corporation