Six United Homes Group board members resigned after executive chairman Michael Nieri refused to step down from the position and forgo any future compensation from the company under the guise of cost-savings.
Nieri would not agree to the conditions, which came at the end of a strategic review of the company’s business that ultimately decided on a “business as usual” approach for the South Carolina builder, as opposed to a sale or merger with another builder.
By planning to resign no later than Nov. 14, the four board members hoped to facilitate an orderly transition by allowing United Homes Group to timely file its upcoming quarterly report on Form 10-Q and enable Nieiri to identify new directors.
Robert Dozier, Jason Enoch, Alan Levin, and James Pirrello told Nieri they were willing to remain on the board if:
- The company’s existing management team was fully empowered to execute on the company’s strategic plan.
- Nieri stepped down from his position as executive chairman of the company and agreed to forgo any remaining cash compensation to which he would be entitled under his existing employment agreement, in accordance with the company’s cost-saving initiatives.
The resignation letter submitted by the directors cited, among other reasons, the belief that the company’s existing management team is better suited to help the company navigate the current market environment and address the company’s operational challenges without Nieri serving as executive chairman. Pirello served as the builder’s interim CEO from September 2024 to May 2025.
Additionally, former U.S. Ambassador Nikki Haley announced her intention to resign from the board, effective no later than Nov. 14, in the hope of facilitating an orderly transition by allowing the company to file its upcoming quarterly report. The resignation letter by Ambassador Haley cited her desire to focus on her other engagements and professional responsibilities.
James Clements also announced his intention to resign from the board, effective immediately. Clements cited his desire to focus his time on his other professional obligations and responsibilities.
In conjunction with the resignations from the board members, the special committee of independent directors appointed by United Homes Group to explore strategic alternatives announced its findings. After evaluating a full range of strategic alternatives, including a potential sale, the special committee unanimously determined that continuing to execute on the company’s strategic plan as an independent public company is in its best interest at this time.
In May, United Homes said it would explore selling the company, as it struggled to find its way as a public builder in a challenging market. It also replaced its CEO, the third person to hold the role since it went public in 2023.
The company’s board of directors appointed a special committee comprised of independent directors and initiated a review of strategic alternatives, including a sale of the company, a sale of assets, and a refinancing of existing indebtedness, among others.
“We believe that now is the appropriate time to evaluate a range of potential strategic alternatives,” Nieri said at the time.
The company was on a roll when it went public. Its stock surged 63% on its opening day as it promised to focus on attainable homes in Georgia, North Carolina, and South Carolina. Those same shares are down more than 75% since that initial public offering.
For the period ended Sept. 30, United Homes Group reported a 5% decline in net new orders to 324 and a 29% decline in closings to 262. CEO Jack Micenko said the decline in orders primarily reflects weaker demand in July, which improved sequentially in August and September.
Orders and closings also declined in the first nine months of 2025 compared to the same period in 2024. The builder increased starts by 65.9% to 526 in the third quarter.
