NMHC President Doug Bibby Postpones Exit
- Sep 11, 2020
Doug Bibby, the longtime president of the National Multifamily Housing Council (NMHC), who previously announced that he would step down in January 2021, has decided to postpone his departure for another year to help the trillion-dollar apartment industry navigate a period of extraordinary challenges and flux.
NMHC said today that Bibby will delay his exit until the trade association’s 2022 annual meeting, at which time it hopes to introduce a successor. The organization announced this past January that it had tapped search firm Russell Reynolds Associates to help identify a successor and that it aimed to introduce the new president at its subsequent annual meeting.
In its latest announcement, NMHC said Bibby would remain at the helm “to help its leaders steer a path through the pandemic, nascent economic recovery and social and racial inequity that have all presented the sector with new challenges.” David Schwartz, chair of NMHC’s board of officers, cited “serious risks from Capitol Hill to Main Street” in the same statement.
Staying at the helm
Bibby has led the organization since 2001, after working at Fannie Mae for 16 years, where he played a key role in the company’s turnaround of the 1980s and 1990s. The executive started his career at global communications firm J. Walter Thompson, rising to the position of senior vice president and general manager of the company’s Washington, D.C., operations.
During his two-decade tenure at NMHC, Bibby steered the organization through the financial crisis and the rise of housing as an institutionalized asset class, while leading a number of successful advocacy campaigns and promoting diversity in the industry. The organization represents prominent multifamily owners, developers and managers that provide apartments for a total of 39 million Americans.
The apartment industry is currently grappling with a host of novel challenges, including a four-month federal eviction moratorium announced by the Trump administration on September 1. Bibby criticized the order, urging policymakers to come up with a rental assistance program while leaving renter protection rules to state and local officials.