The association that lobbies on behalf of the multifamily industry will welcome a new leader next year for the first time in two decades.

National Multifamily Housing Council President Doug Bibby plans to step down next year, the organization announced Wednesday.

Bibby became NHMC's president in 2001 after 16 years at Fannie Mae. Prior to that, he spent 12 years at communications firm J. Walter Thompson. He received his bachelor's degree from Denison University in 1968 and his MBA from the University of Texas at Austin.

“It has been, and continues to be, a great honor and privilege to serve in this position,” Bibby said in a release. “Representing the apartment industry has been one of the most fulfilling and gratifying experiences of my career. I am proud of the work the team at NMHC has done and the strides the industry has taken during my tenure."

NMHC's Board of Officers has engaged executive search firm Russell Reynolds Associates to identify a new candidate to lead the organization, the group said in announcing Bibby's retirement. It hopes to announce the selection at its January 2021 meeting. NMHC has more than 1,100 multifamily companies as its members.

"Doug’s leadership of the industry has been second to none,” said NMHC Board of Officers Chair David Schwartz, the CEO of Waterton. “His experience, insights and deft guidance of NMHC have placed the industry in a strong position to address the challenges and opportunities we will face."