ATLANTA, Dec. 2, 2015 /PRNewswire/ -- PulteGroup, Inc.
(NYSE: PHM), one of America's largest homebuilding companies, today
announced that it has appointed Richard W.
Dreiling and James J.
Grosfeld as independent Directors to its Board, effective
immediately. The appointments expand PulteGroup's Board of
Directors to 11 members, 10 of whom are independent.
"I want to welcome Rick and Jim, both of whom bring relevant
experience and outstanding records of performance to an already
highly distinguished PulteGroup Board," said Richard J. Dugas,
Jr., Chairman, President and Chief Executive Officer of PulteGroup.
"Rick has a tremendous range of consumer facing and executive
management experience from his years working with some of the
nation's top retail companies, and Jim brings extensive experience
in corporate finance and homebuilding operations."
"Richard and his executive team have done an outstanding job
implementing PulteGroup's Value Creation strategy and the Board
looks forward to contributions from Rick and Jim in the Company's
ongoing work to deliver superior through-cycle returns to
shareholders," said James Postl,
lead independent Director of PulteGroup's Board of Directors.
Mr. Dreiling said, "The Company has done a tremendous job
improving its core homebuilding operations over the past several
years, so I am excited about joining the Board and contributing to
PulteGroup's ongoing success as it continues executing its Value
Creation strategy."
Mr. Grosfeld added, "I appreciate PulteGroup's focus on
delivering superior returns for its shareholders and look forward
to working with my fellow directors and the management team led by
Richard Dugas as the Company works
to capitalize on the opportunities that exist in today's housing
market."
About Richard W. (Rick)
Dreiling
Mr. Dreiling, age 62, served as Chief Executive Officer and
Chairman of the Board of Dollar General Corporation, one of the
fastest-growing retailers in America, from 2008 through 2015.
Mr. Dreiling also is a director of Lowe's Companies, Inc., a
FORTUNE® 50 home improvement company, and Chairman of the Retail
Industry Leaders Association (RILA).
Prior to joining Dollar General in 2008, Mr. Dreiling served as
Chief Executive Officer, President and a director of Duane Reade
Holdings, Inc. and Duane Reade Inc., from November 2005 until January 2008 and as Chairman of the Board from
March 2007 until January 2008. Earlier in his career, Mr.
Dreiling also held executive positions with Longs Drug Stores
Corporation and Safeway Inc.
About James Grosfeld
Mr. Grosfeld, age 78, has served as a member of the board of
directors of BlackRock, Inc., a global leader in investment
management, since 1999 and as a trustee of Lexington Realty Trust,
a real estate investment trust focused on single-tenant real estate
investments, since 2003. He has served on the advisory board
of the Federal National Mortgage Association and as director of
Copart, Inc., Interstate Bakeries Corporation, Addington Resources
and Ramco-Gershenson Properties Trust. He was chairman and chief
executive officer of Pulte Homes, Inc. from 1974 to 1990.
Forward-Looking Statements
This press release includes "forward-looking statements."
These statements are subject to a number of risks, uncertainties
and other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed
in, or implied by, these statements. You can identify these
statements by the fact that they do not relate to matters of a
strictly factual or historical nature and generally discuss or
relate to forecasts, estimates or other expectations regarding
future events. Generally, the words "believe," "expect,"
"intend," "estimate," "anticipate," "project," "may," "can,"
"could," "might," "will" and similar expressions identify
forward-looking statements, including statements related to
expected operating and performing results, planned transactions,
planned objectives of management, future developments or conditions
in the industries in which we participate and other trends,
developments and uncertainties that may affect our business in the
future.
Such risks, uncertainties and other factors include, among other
things: interest rate changes and the availability of mortgage
financing; continued volatility in the debt and equity markets;
competition within the industries in which PulteGroup operates; the
availability and cost of land and other raw materials used by
PulteGroup in its homebuilding operations; the impact of any
changes to our strategy in responding to the cyclical nature of the
industry, including any changes regarding our land positions; the
availability and cost of insurance covering risks associated with
PulteGroup's businesses; shortages and the cost of labor; weather
related slowdowns; slow growth initiatives and/or local building
moratoria; governmental regulation directed at or affecting the
housing market, the homebuilding industry or construction
activities; uncertainty in the mortgage lending industry, including
revisions to underwriting standards and repurchase requirements
associated with the sale of mortgage loans; the interpretation of
or changes to tax, labor and environmental laws; economic changes
nationally or in PulteGroup's local markets, including inflation,
deflation, changes in consumer confidence and preferences and the
state of the market for homes in general; legal or regulatory
proceedings or claims; our ability to generate sufficient cash flow
in order to successfully implement our capital allocation
priorities; required accounting changes; terrorist acts and other
acts of war; and other factors of national, regional and global
scale, including those of a political, economic, business and
competitive nature. See PulteGroup's Annual Report on Form
10-K for the fiscal year ended December 31,
2014, and other public filings with the Securities and
Exchange Commission (the "SEC") for a further discussion of these
and other risks and uncertainties applicable to our
businesses. PulteGroup undertakes no duty to update any
forward-looking statement, whether as a result of new information,
future events or changes in PulteGroup's expectations.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM),
based in Atlanta, Georgia, is one
of America's largest homebuilding companies with operations in
approximately 50 markets throughout the country. Through its
brand portfolio that includes Centex, Pulte Homes, Del Webb and DiVosta Homes, the Company is one
of the industry's most versatile homebuilders able to meet the
needs of multiple buyer groups and respond to changing consumer
demand. PulteGroup conducts extensive research to provide
homebuyers with innovative solutions and consumer inspired homes
and communities to make lives better.
For more information about PulteGroup, Inc. and PulteGroup
brands, go to www.pultegroupinc.com; www.pulte.com; www.centex.com;
www.delwebb.com and www.divosta.com. Follow PulteGroup,
Inc. on Twitter: @PulteGroupNews.
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SOURCE PulteGroup, Inc.