Tri Pointe Homes, Inc. (“Tri Pointe Homes” or the “Company”)
(NYSE:TPH) today announced the appointment of R. Kent Grahl to its
Board of Directors, effective September 27, 2021. Mr. Grahl has
also been appointed to the Audit, Compensation and Executive Land
Committees of the Company’s Board of Directors.
“We are excited for Kent to join the Tri Pointe Homes Board of
Directors and look forward to leveraging his substantial experience
in the homebuilding industry,” said Steven Gilbert, Chairman of the
Tri Pointe Homes Board. “Kent has more than 30 years of experience
in investing and managing institutional capital for residential and
multifamily development across the U.S., including structuring
joint ventures, land banks and other transactions. I believe Kent’s
homebuilding industry expertise and financial acumen will provide
significant value to Tri Pointe Homes, and that Kent’s appointment
will also enhance the diversity of the Board of Directors.”
Additionally, Daniel S. Fulton notified the Company of his
decision to retire from the Board of Directors effective at the end
of the year. “Dan has served as a member of the Tri Pointe Homes
Board since our merger with Weyerhaeuser Real Estate Company in
2014,” said Mr. Gilbert. “As former president, CEO and member of
the board of directors of Weyerhaeuser Company with nearly 38 years
of service with Weyerhaeuser, Dan’s insights and wisdom have been
invaluable to the Tri Pointe Homes Board, particularly during a
period of such tremendous growth for Tri Pointe Homes, and I want
to sincerely thank Dan for all of his contributions over the
years.”
Mr. Grahl served as Vice Chairman of the Board of Directors and
President of Resmark Equity Partners, LLC from 1999 to 2019, where
he originated, underwrote, managed and directed over $3.4 billion
in equity investments that resulted in the delivery of over 27,000
residential for-sale homes, for-rent homes and lots. During his
tenure, Mr. Grahl focused on delivering positive risk-adjusted
returns for Resmark’s institutional investors and advised its Board
of Directors on corporate initiatives and investment strategy.
Prior to joining Resmark, Mr. Grahl served as lead consultant to
Bankers Trust regarding its CalPERS-related residential investment
program from 1998 to 1999, and from 1992 to 1998, served as Senior
Vice President with Prudential Home Building Investors, where he
was responsible for all investment originations and operations
nationwide regarding its CalPERS-related residential investment
program and Prudential’s National Residential Fund. Previously,
from 1986 to 1992, Mr. Grahl served as Project Manager with Home
Capital Corporation, a real estate investment subsidiary of HomeFed
Bank, where he originated, underwrote and managed residential
investments. Mr. Grahl graduated with a B.S. in Finance/Economics
from San Diego State University in 1984 and received an M.B.A. from
National University in 1987.
About Tri Pointe Homes, Inc.
One of the largest homebuilders in the U.S., Tri Pointe Homes®
(NYSE: TPH) is a publicly traded company and a recognized leader in
customer experience, innovative design, and environmentally
responsible business practices. The company builds premium homes
and communities in 10 states, with deep ties to the communities it
serves—some for as long as a century. Tri Pointe Homes combines the
financial resources, technology platforms and proven leadership of
a national organization with the regional insights, longstanding
community connections and agility of empowered local teams. Tri
Pointe has won multiple Builder of the Year awards, most recently
in 2019, and made Fortune magazine’s 2017 100 Fastest-Growing
Companies list. Named one of the Best Places to Work by the Orange
County Business Journal for four consecutive years, Tri Pointe
Homes also became a Great Place to Work-CertifiedTM company in
2021. For more information, please visit TriPointeHomes.com.
Forward-Looking
Statements
Various statements contained in this press release, including
those that express a belief, expectation or intention, as well as
those that are not statements of historical fact, are
forward-looking statements. These forward-looking statements may
include, but are not limited to, statements regarding our strategy,
projections and estimates concerning the timing and success of
specific projects and our future production, land and lot sales,
operational and financial results, including our estimates for
growth, financial condition, sales prices, prospects, and capital
spending. Forward-looking statements that are included in this
press release are generally accompanied by words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “future,”
“goal,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,”
“plan,” “potential,” “predict,” “project,” “should,” “strategy,”
“target,” “will,” “would,” or other words that convey future events
or outcomes. The forward-looking statements in this press release
speak only as of the date of this press release, and we disclaim
any obligation to update these statements unless required by law,
and we caution you not to rely on them unduly. These
forward-looking statements are inherently subject to significant
business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to
predict and many of which are beyond our control. The following
factors, among others, may cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements: the effects of the ongoing COVID-19
pandemic, which are highly uncertain and subject to rapid change,
cannot be predicted and will depend upon future developments,
including the emergence and spread of new strains or variants of
COVID-19, the severity and the duration of the outbreak, the
duration of existing and future social distancing and
shelter-in-place orders, further mitigation strategies taken by
applicable government authorities, the availability and acceptance
of effective vaccines, adequate testing and treatments and the
prevalence of widespread immunity to COVID-19; the impacts on our
supply chain, the health of our employees, service providers and
trade partners, and the reactions of U.S. and global markets and
their effects on consumer confidence and spending; the effects of
general economic conditions, including employment rates, housing
starts, interest rate levels, availability of financing for home
mortgages and strength of the U.S. dollar; market demand for our
products, which is related to the strength of the various U.S.
business segments and U.S. and international economic conditions;
the availability of desirable and reasonably priced land and our
ability to control, purchase, hold and develop such parcels; access
to adequate capital on acceptable terms; geographic concentration
of our operations, particularly within California; levels of
competition; the successful execution of our internal performance
plans, including restructuring and cost reduction initiatives; raw
material and labor prices and availability; oil and other energy
prices; the effects of U.S. trade policies, including the
imposition of tariffs and duties on homebuilding products and
retaliatory measures taken by other countries; the effects of
weather, including the occurrence of drought conditions in
California; the risk of loss from earthquakes, volcanoes, fires,
floods, droughts, windstorms, hurricanes, pest infestations and
other natural disasters, and the risk of delays, reduced consumer
demand, and shortages and price increases in labor or materials
associated with such natural disasters; the risk of loss from acts
of war, terrorism, civil unrest or outbreaks of contagious
diseases, such as COVID-19; transportation costs; federal and state
tax policies; the effects of land use, environment and other
governmental laws and regulations; legal proceedings or disputes
and the adequacy of reserves; risks relating to any unforeseen
changes to or effects on liabilities, future capital expenditures,
revenues, expenses, earnings, synergies, indebtedness, financial
condition, losses and future prospects; changes in accounting
principles; risks related to unauthorized access to our computer
systems, theft of our homebuyers’ confidential information or other
forms of cyber-attack; and additional factors discussed under the
sections captioned “Risk Factors” included in our annual and
quarterly reports filed with the Securities and Exchange
Commission. The foregoing list is not exhaustive. New risk factors
may emerge from time to time and it is not possible for management
to predict all such risk factors or to assess the impact of such
risk factors on our business.
Investor Relations Contact:Drew
Mackintosh, Mackintosh Investor
RelationsInvestorRelations@TriPointeHomes.com, 949-478-8696
Media Contact:Carol Ruiz,
cruiz@newgroundco.com, 310-437-0045
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/89a41b39-83eb-45de-8c6b-6d4ff3f6eafe
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