Dominion Homes Names Cornely CFO, Initiates Strategic Overview of Sales and Management Policies and Procedures
January 17 2006 - 9:29AM
Business Wire
Dominion Homes, Inc. (NASDAQ:DHOM) today named William G. Cornely,
a former partner with PricewaterhouseCoopers, chief financial
officer and senior vice president of finance. As CFO, Cornely will
be responsible for all financial reporting, oversight and
management of the accounting, finance and information technology
staffs, Dominion Homes Financial Services operation, and investor
and banker relationships. In addition, one of his first duties will
be to oversee a top-to-bottom review and examination of Dominion's
sales practices and the mortgage operation. "Cornely's initial
assignment is to review and revamp policies and procedures, and
institute a permanent ethics training and compliance process to
ensure that our company follows all laws, rules and regulations,
and acts with integrity in every transaction," said Douglas G.
Borror, Dominion's chief executive officer. "We want our customers
to have long-term relationships with our sales people, to be
customers for life. A 'customer for life' relationship means the
customer will always come back to us when they're ready for their
next home - and have absolute confidence in referring their friends
and family to Dominion Homes," Borror said. Cornely's review of
policies and procedures will lead to the introduction of other
changes that will improve communication with prospective homebuyers
and their understanding of each element in the home buying
transaction. Cornely joins Dominion Homes with more than 25 years
of real estate financial reporting. Prior to joining Dominion
Homes, Cornely worked for PricewaterhouseCoopers for 20 years. It
was during that time, in 1994, that Dominion Homes had its initial
public offering and Cornely was the lead partner on the account. In
1997 he joined Glimcher Realty Trust, where he served as CFO from
1997 - 2002 and chief operating officer from 1998 - 2005. A
certified public accountant, Cornely graduated with a BS in
Business Administration with a major in Finance from The Ohio State
University in 1973. He is a member of the American Institute of
CPAs. "Exciting things are happening at Dominion, for customers,
for employees, and for the future," Cornely said. "My experience
with both the company and the industry over the last twenty years
will permit me to play a crucial role as the company moves into the
future." Dominion Homes offers a variety of homes, which are
differentiated by size, price, standard features and available
options. The Company's "The Best of Everything" philosophy focuses
on providing its customers with premium products, quality and
customer service. Additional information about the Company and its
homes is available on its website (www.dominionhomes.com). Certain
statements in this news release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to
differ materially. Such risks, uncertainties and other factors
include, but are not limited to, weather conditions, changes in
general economic conditions, fluctuations in interest rates,
increases in raw materials and labor costs, levels of competition
and other factors described in the Company's Annual Report and Form
10-K for the year ended December 31, 2004. All forward-looking
statements made in this press release are based on information
presently available to the management of the Company. The Company
assumes no obligation to update any forward-looking statements.
Dominion Homes (MM) (NASDAQ:DHOM)
Historical Stock Chart
From May 2024 to Jun 2024
Dominion Homes (MM) (NASDAQ:DHOM)
Historical Stock Chart
From Jun 2023 to Jun 2024