Emile Haddad, founder of real estate developer FivePoint Holdings, has announced that he will leave his role as CEO at the company at the end of September. He intends to transition from day-to-day management into a new role as senior advisor, and he will remain on the board of directors and serve as chairman emeritus.

The company’s new management team includes Stuart Miller, executive chairman of FivePoint’s longtime partner Lennar, and Five Point’s chief operating officer, Lynn Jochim, who is being promoted to president. Haddad will not be replaced as CEO.

While conceding the move is, in part, to have more time with his family, [Haddad’s] primary goal is to work on big-picture ideas to boost stockholder value, fulfill the company’s dream for the Great Park [development in Irvine, Calif.] while also working on public interest projects like promoting health care projects in Irvine, and attacking the state’s housing crisis.

“Today’s announcement was for me to step back from the day-to-day operational responsibility and the management of the public market and all that and focus on the things I’ve always enjoyed focusing on, and that is what is the next opportunity within our communities,” he said.

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