MIAMI, Jan. 18 /PRNewswire-FirstCall/ -- Lennar Corporation (NYSE: LEN
and LEN.B) announced that the Company's Board of Directors has appointed
Sherrill W. Hudson, the Chairman and Chief Executive Officer of TECO
Energy, Inc., to serve as an independent member of the Board and a member
of the Board's Audit Committee and Compensation Committee.
Mr. Hudson's appointment increases the size of the Company's Board to
eight members, and the number of "independent" directors, as defined under
the New York Stock Exchange Corporate Governance Standards, to seven.
Mr. Hudson, 65, is Chairman and Chief Executive Officer of TECO Energy.
Prior to joining TECO in July 2004, Mr. Hudson spent 37 years with Deloitte
& Touche LLP until he retired in 2002, after spending 19 years in Miami as
Managing Partner for its South Florida offices. While at Deloitte & Touche
LLP, Mr. Hudson became very familiar with both Lennar and its management
team.
"We are pleased to add an individual with Sherrill Hudson's outstanding
experience and qualifications to our Board of Directors," said Sidney
Lapidus, Lead Director of the Board of Directors of Lennar Corporation. "We
believe that Sherrill's business acumen and experience will provide our
Company with invaluable insight during these challenging times."
Mr. Hudson is a member of the Florida Institute of Certified Public
Accountants, which recognized him as the 2006 Outstanding CPA in Business
and Industry. He is also well known for his community service activities,
including serving as chair of the United Way of Tampa Bay 2007 Campaign, a
board member of The Florida Council of 100 and chair of the Council of
Governors of the Tampa Bay Partnership.
In addition to being Chairman of the Board of TECO Energy, Mr. Hudson
also serves on the Boards of Publix Super Markets, Inc. and The Standard
Register Company.
Lennar Corporation, founded in 1954, is one of the nation's leading
builders of quality homes for all generations. The Company builds
affordable, move-up and retirement homes primarily under the Lennar brand
name. Lennar's Financial Services segment provides primarily mortgage
financing, title insurance and closing services for both buyers of the
Company's homes and others. Previous press releases and further information
about the Company may be obtained at the "Investor Relations" section of
the Company's website, http://www.lennar.com.
SOURCE Lennar Corporation
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Related links:
http://www.lennar.com
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CONTACT:
Scott Shipley, Investor Relations, Lennar
Corporation, +1-305-485-2054
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