Shareholders of PulteGroup, Inc. (NYSE:PHM) on Wednesday ratified all proposals submitted for a vote including the election of all Board nominees at the company’s Annual Meeting in Atlanta.
Bryce Blair becomes PulteGroup’s Non-Executive Chairman, following his re-election as a director at the Annual Meeting and the company’s action in 2016 to separate the CEO and Chairman roles. Blair, a PulteGroup director since 2011, is the former chairman and CEO of AvalonBay Communities, Inc. and is the executive chairman of Invitation Homes .
“Today’s Annual Meeting brings to a successful conclusion the succession process announced last September, as Richard Dugas, former chairman and chief executive officer, has retired after a distinguished, 23-year career with the company,” said Blair. “We appreciate the years of dedicated service that Richard and James Postl, our lead independent director since 2010, have provided to PulteGroup and thank them both for their contributions.”
Director John Peshkin has succeeded Mr. Blair as Chair of the Board’s Finance and Investment Committee. Peshkin’s experience as a founder and managing partner at a leading real estate investment group and as a senior executive, investor and board member at two of the nation’s top home building companies makes him ideally suited for this role.
“We recruited John last year to benefit from his extensive home building background,” said Ryan Marshall, PulteGroup President and CEO. “He has been a valuable addition and is a natural choice as successor to Bryce Blair as Chair of the Finance and Investment Committee.”
During the meeting’s formal business, shareholders elected the following 12 directors to one-year terms: Brian P. Anderson, Bryce Blair, Richard W. Dreiling, Jr., Thomas J. Folliard, Joshua Gotbaum, Cheryl W. Grisé, André J. Hawaux, Ryan R. Marshall, Patrick J. O’Leary, John R. Peshkin, Scott F. Powers and William J. Pulte.
Shareholders also ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm, and approved advisory votes on executive compensation and to recommend that future votes on named executives’ compensation be held annually.
