The New Home Company (NYSE:NWHM), Aliso Viejo, Cal., Thursday afternoon announced the retirement of Wayne Stelmar, a co-founder of the company and its chief investment officer, on Feb. 17. He will continue in a consulting role with the company and continue as a member of the company’s board and its Executive Committee
Succeeding Stelmar is Tom Redwitz, also a co-founder and the company’s current COO. 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. 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.
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.”
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.”
