Sun Communities CEO Gary Shiffman to Retire in 2025, Names John McLaren President, Announces Cost-Cutting Plan

SUN COMMUNITIES INC

CEO Gary Shiffman intends to retire in 2025 after over 40 years; succession committee co-chaired by Jeff Blau and Tonya Allen.
John B. McLaren appointed President with $600,000 base salary, 50,000 restricted shares, and performance vesting criteria.
Company implements restructuring plan targeting $15-$20 million in annualized G&A and operating expense savings.
McLaren previously served as COO for 14 years and oversaw acquisition and integration of approximately 350 MH and RV communities.

item 5.02 item 8.01 item 7.01 item 9.01

Executive movements

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Appointed

John B. McLaren

President

SUI · SUN COMMUNITIES INC

Effective: 2024-11-06
Filed: November 7, 2024, 6:59 PM ET

On November 6, 2024, the Company appointed John B. McLaren as its President.

Departed

Gary A. Shiffman

Chief Executive Officer

SUI · SUN COMMUNITIES INC

Filed: November 7, 2024, 6:59 PM ET

Gary A. Shiffman, Chairman of the Board and Chief Executive Officer of Sun Communities, Inc. (the “Company”), informed the Company’s Board of Directors of his intent to retire as Chief Executive Officer

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John B. McLaren was appointed as President at SUN COMMUNITIES INC.

Action: appointed
Role: President

Exact text from the filing

On November 6, 2024, the Company appointed John B. McLaren as its President.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gary A. Shiffman departed as Chief Executive Officer at SUN COMMUNITIES INC.

Action: retire
Role: Chief Executive Officer

Exact text from the filing

Gary A. Shiffman, Chairman of the Board and Chief Executive Officer of Sun Communities, Inc. (the “Company”), informed the Company’s Board of Directors of his intent to retire as Chief Executive Officer

View on SEC.gov

SUN COMMUNITIES INC filing history →

Source: SEC EDGAR

accession 0000912593-24-000238

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