OREANDA-NEWS. PulteGroup, Inc. (NYSE: PHM), one of America's largest homebuilding companies, said today that William J. (Bill) Pulte has been appointed to its Board of Directors.  Mr. Pulte is the grandson of the Company's founder, William J. Pulte.

PulteGroup also reported that it has entered into an agreement with Company founder William J. Pulte and certain related parties.  The agreement provides, among other things, that the signatories will vote in favor of any Board nominees and against any nominees not nominated by the Board, so long as Bill Pulte serves on the Company's Board of Directors.  The signatories to the agreement own an aggregate of 30.7 million, or approximately 9.0%, of the currently outstanding shares of the Company.

"We are pleased to have a member of PulteGroup's founding family join our Board to contribute to the ongoing success of the Company," said James J. Postl, Lead Independent Director of PulteGroup's Board of Directors. "Bill has a broad background in the industry and is committed to working constructively with the Board and management for the benefit of all PulteGroup shareholders, as the Company continues to implement its Value Creation strategy."

Mr. Pulte said, "I am pleased with the constructive discussions that I have had with the PulteGroup Board and management team.  My grandfather and I fully support the Company's Value Creation strategy, and we are pleased with the Company's ongoing actions to enhance shareholder value.  We also welcome today's announcement that the Board has named Ryan Marshall as the Company's new CEO. I look forward to working with him and the other Board members as the Company continues to build long-term shareholder value." 

Since 2011, Mr. Pulte has served as CEO of Pulte Capital Partners LLC, an investment firm with no affiliation with PulteGroup that is focused on investing in housing supply, building products, and related service companies. Mr. Pulte also currently serves as CEO and Chairman of Carstin Brands LLC, a leading residential countertop manufacturer, and as a director of Olon Group Inc., a leading manufacturer for the cabinet industry. Prior to its sale in May 2016, Mr. Pulte built Southern Air & Heat LLC into one of the leading residential heating and air conditioning platforms in the United States.  Mr. Pulte is a graduate of Northwestern University.

Debra Kelly-Ennis to Retire from PulteGroup Board

PulteGroup also announced that, after two decades of service, Debra Kelly-Ennis will resign from the Board effective immediately.  "We have benefitted from Debra's insights and counsel for 20 years," said Mr. Postl.  "On behalf of the entire Board of Directors, I thank Debra for the numerous contributions she has provided during her time with the Company." 

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, DiVosta Homes and John Wieland Homes and Neighborhoods, 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.