We Think PulteGroup’s Value-Creation Strategy Will Remain Intact With New CEO
On Sept. 8, PulteGroup named Ryan Marshall, the homebuilder’s current president, as the new CEO effective immediately. Marshall succeeds Richard Dugas, who served as CEO since 2003 and had been the target of public criticism from founder Bill Pulte regarding the company’s performance under Dugas’ leadership. The news was not entirely a surprise since Dugas had previously announced that he planned to retire in May 2017, although the transition did happen sooner than we expected. We also suspected...PulteGroup through its subsidiaries is engaged in the homebuilding business. The company also has mortgage banking operations, conducted principally through its susidiary, Pulte Mortgage LLC, and title and insurance brokerage operations. The company's homebuilding business includes the acquisition and development of land primarily for residential purposes within the United States. The company provides a variety of home designs, including single-family detached, townhouses, condominiums, and duplexes at different prices and with varying levels of options and amenities to its customer groups: first-time, move-up, and active adult.
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