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Pandemic prompts some CEOs to put off stepping down

Need for continuity, advocacy and deep industry knowledge behind decisions to keep longtime leaders in place a little longer

Sept. 28, 2020
By Lori Sharn

CEO Doug Bibby planned to mark his 20th anniversary with the National Multifamily Housing Council next year by turning over the leadership reins to someone else. Instead, he will delay his retirement a year with the aim of stepping down in January 2022 instead of January 2021.
Bibby said a “triple whammy of circumstances” led to the decision: Concerns that a new leader could not meet in-person with staff; would have a harder time getting up to speed on issues; and may have to tackle deep financial losses if the pandemic continues.  

“Senior staff came to me and said, ‘You can’t leave, Boss.’ And they were right. It didn’t make any sense,” Bibby said, noting that he has led NMHC during previous recessions.