Lennar names Beckwitt president, Miller remains CEO
Lennar Corp. (LEN) promoted Rick Beckwitt to president from his previous position as executive vice president. He has been with the Miami-based homebuilder since 2006. "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," said Stuart Miller, Lennar's chief executive officer. The duo, he added, was successful in reducing construction costs, re-engineering the Lennar product, restructuring the company's homebuilding divisions, dissolving joint ventures and investing in new opportunities since their time with the firm. "I speak for the entire Lennar management team in saying that we are very excited for Rick to take on these additional responsibilities," said Miller, who had been president of Lennar and will remain CEO. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.