Former US Treasury Secretary Snow to retire from Armada Hoffler board

Former U.S. Secretary of the Treasury John Snow will retire from real estate firm Armada Hoffler’s board of directors, the Virginia Beach company announced this week.

Snow, 84, has served as a director since Armada Hoffler went public in 2013 and served as lead independent director from 2013 to 2019. He was treasury secretary for President George W. Bush’s administration. Snow was also chairman and CEO of Jacksonville, Florida-based transportation company CSX from 1986 to 2003 and served on several other boards and councils.

Armada Hoffler’s board of directors recently approved an amendment to its corporate governance guidelines that directors older than 80 will no longer run for re-election.

“I have greatly enjoyed my time with Armada Hoffler and am proud to have served on the board since the IPO. I am delighted by the growth the company has seen since going public and have every confidence in the company’s future and the new leadership team,” said Snow, who as a Bush Cabinet member steered the 2003 Jobs and Growth Tax Relief Act, shaping domestic and global economic policy.

“John has been a dedicated and valuable member of our board of directors, and we are deeply grateful for his guidance, leadership and service,” Lou Haddad, CEO of Armada Hoffler, said in a statement. “John has been instrumental in shaping this board and its future. We wish him well.”

Last month, Armada Hoffler announced that it expects to promote Shawn Tibbetts to CEO in spring 2025 when Haddad plans to retire.

Armada Hoffler is the real estate giant behind Virginia Beach’s Town Center. The firm’s flagship project was built as part of a public-private partnership. As of last fall, it had 51 large-scale commercial assets and had developed more than $800 million in new projects. It has operations in seven mid-Atlantic states and also provides general construction and development services to third-party clients. It was founded in 1979 by Dan Hoffler.