Howard Hughes Holdings directors Kaplan and Shepsman to step down

Howard Hughes Holdings Inc. (NYSE:HHH) announced that Beth Kaplan and Steven Shepsman, both members of its Board of Directors, have decided not to stand for re-election at the company’s 2025 Annual Meeting of Stockholders. The company disclosed this development in a filing with the Securities and Exchange Commission.

According to the statement, both Kaplan and Shepsman informed the company of their decisions on Friday. The company noted that their decisions were not the result of any disagreement with Howard Hughes Holdings or its management regarding company operations, policies, or practices. The company maintains solid operational performance with a gross profit margin of 46% and has demonstrated profitability over the last twelve months.

Howard Hughes Holdings stated that it has begun a search for qualified candidates to fill the two board positions that will become vacant following their departures.

The information for this article is based on a press release statement included in the company’s recent SEC filing.

In other recent news, Howard Hughes Holdings reported mixed financial results for the first quarter of 2025. The company posted earnings per share of $0.21, which fell short of analysts’ expectations, while revenue was reported at $199.33 million, also missing forecasts. Despite these results, the company highlighted strong performance in its master-planned communities (MPC) segment, with a 161% year-over-year increase in earnings before taxes. In a strategic move, Howard Hughes is undergoing a transformation into a diversified holding company, with plans to expand into property and casualty insurance and other business acquisitions. Meanwhile, JPMorgan downgraded the company’s stock from Overweight to Neutral due to valuation concerns, even though the real estate business continues to perform well. Piper Sandler, however, maintained an Overweight rating, expressing optimism about the company’s future under the guidance of Bill Ackman and Pershing Square. The strategic changes and recent financial results indicate a period of transition for Howard Hughes Holdings as it seeks to diversify its earnings and enhance long-term growth.

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