The Board of Directors of Armada Hoffler Properties, Inc. announced that Shawn Tibbetts, the company?s Chief Operating Officer, has been named President. Tibbetts has served as the Chief Operating Officer of the company since joining in 2019 and plays an integral role in its growth and success. Upon the expected retirement of Louis Haddad as CEO in the spring of 2025, the company?s Board of Directors, having undertaken a deliberate and thorough succession planning process over the last several years, expects to appoint Tibbetts as Chief Executive Officer.

As President and Chief Operating Officer, Tibbetts will continue to oversee all aspects of Armada Hoffler's operations, guiding strategic initiatives, fostering innovation, and reinforcing the company's commitment to excellence. Known for his collaborative approach and remarkable ability to inspire, Tibbetts has been a key factor in building upon the culture of teamwork and accountability within the organization. Since joining Armada Hoffler, Tibbetts has successfully led the team to historic performance coming out of the pandemic, growing the company?s portfolio NOI by 45%, and overseeing the successful execution of over $1.2 billion of transactions.

Haddad will continue to serve as Chief Executive Officer during the transition period, after which he is expected to become Executive Chairman for approximately one year. Pending the shareholders? vote at the 2024 Annual Meeting of Stockholders, Hoffler will continue to serve as a member of the Board of Directors as Chairman Emeritus.

Tibbetts has over two decades of corporate experience, including formerly serving as The Port of Virginia?s President and Chief Operations Officer. He is a board member at large for the Virginia Chamber of Commerce. Tibbetts earned his BBA from James Madison University, MBA from the College of William & Mary, and completed the Advanced Management Program at Harvard Business School.

Armada Hoffler believes that its succession planning framework positions the Company for long-term success and sustainability.