The New Home Company Inc. Announces Strategic Changes in Its Executive Suite
February 16 2017 - 4:05PM
Business Wire
The New Home Company (NYSE:NWHM) today announced a series of
executive changes that will support and enhance its operations and
growth strategies.
The Company announced that Wayne Stelmar, the company’s Chief
Investment Officer, will retire effective February 17, 2017. Mr.
Stelmar will assume a consulting role with the company and continue
as a member of the company’s Board of Directors and Executive
Committee.
Mr. Stelmar commented, “As a co-founder, I am extremely proud of
the accomplishments of The New Home Company since its formation in
2009. I look forward to contributing to the strategic growth of the
company through my new role and my continued participation on the
Board.”
Larry Webb, the company’s Chairman and CEO, stated, “I am
extremely thankful for Wayne’s contributions, as he has been an
integral part of The New Home Company and its culture since its
formation. Wayne has been a partner, chief strategist and, most
importantly, a friend for over twenty years. All of us will
continue to benefit from his insight and expertise in his new role
as a consultant and his ongoing service as a board member.”
Tom Redwitz, a co-founder and the company’s current Chief
Operating Officer, will assume the role of Chief Investment
Officer. Mr. Redwitz will lead the company’s growth initiatives and
land strategies while continuing his management in overseeing
architecture and product design.
Leonard Miller will join the company as its Chief Operating
Officer effective March 13, 2017. Mr. Miller was most recently
California Regional President for Richmond American Homes, a
subsidiary of M.D.C. Holdings, Inc., where he has served since
2004. Miller’s proven track record of operational excellence within
the public homebuilder sector will be a significant asset to the
company as it prepares for additional growth in its core western
markets.
Mr. Webb concluded, “I am very excited about the future of The
New Home Company and believe the changes to our executive team will
augment our current expertise as a high-quality homebuilder while
continuing to pursue our growth initiatives. With over 25 years of
homebuilding experience, Leonard brings a wealth of industry
expertise and local market knowledge to his role as Chief Operating
Officer. This background and public company experience will be a
great asset to our company as we continue to grow and further our
focus on operational excellence. In addition, Mr. Redwitz’s
expertise in land and product will ensure we retain our competitive
edge and core values as we pursue our growth initiatives.”
About The New Home Company
THE NEW HOME COMPANY is a publicly traded company listed on the
New York Stock Exchange under the symbol “NWHM.” It is a next
generation homebuilder focused on the design, construction and sale
of innovative and consumer-driven homes in major metropolitan areas
within select growth markets in California and Arizona, including
coastal Southern California, the San Francisco Bay area, metro
Sacramento and Phoenix. The Company is headquartered in Aliso
Viejo, California. For more information about the Company and its
new home developments, please visit the Company's website at
www.NWHM.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170216006270/en/
The New Home CompanyDrew Mackintosh, Investor
Relations949-382-7838investorrelations@thenewhomecompany.com
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