United Homes Group Announces Executive Leadership Changes
2024年9月25日 - 9:00PM
ビジネスワイヤ(英語)
United Homes Group, Inc. (the “Company”) (NASDAQ: UHG), today
announced that on October 1, 2024, Michael Nieri, the Company’s
founder, Chairman, and Chief Executive Officer, will transition to
Executive Chairman of the Company. As Executive Chairman, Mr. Nieri
will shift his leadership time and energies to focus primarily on
the Company’s strategic future. Concurrently with the effectiveness
of Mr. Nieri’s transition to Executive Chairman, Jamie Pirrello,
currently a member of the Company’s board of directors and a
consultant to the Company, was named interim Chief Executive
Officer of the Company. The Company’s board of directors intends to
undertake a search to identify the Company’s next permanent CEO and
will consider internal and external candidates.
During his tenure with the Company to date, Mr. Nieri has
overseen the tremendous growth and transformation of the Company
from the founding of Great Southern Homes in 2004 through its
transition to becoming a public company in 2023. Mr. Nieri also
helmed the Company through its completion of three homebuilder
acquisitions since becoming a public company, and the Company’s
recent designation as 2024’s Builder of the Year by Builder
Magazine.
Mr. Nieri stated, “I am incredibly proud of what this company
has accomplished. We have assembled an excellent management team
that is focused on growing the business and executing on our
objectives as a public company. Our tremendous growth and
transformation, including becoming a publicly traded company and
listing on Nasdaq in 2023, necessitates these changes and this
division of responsibilities. I’m excited about this transition to
the next phase of leadership of the company and partnering with
Jamie to further the company’s growth trajectory. As Executive
Chairman, I will stay engaged with the company’s strategic
initiatives but also explore other things that are important to me,
including philanthropic activities and spending more time with my
family and my grandchildren.”
Mr. Pirrello served as a Regional President for Century
Communities, Inc. (NYSE: CCS) from 2018 through February 2023,
overseeing their Southeast, Texas, and Florida regions. After
leaving Century Communities, Mr. Pirrello has been the Managing
Partner of Berkeley-Columbia Consulting Group, a consultancy firm
focused on the homebuilding industry. He also previously served as
CFO of Interior Logic Group (“ILG”), one of the nation’s largest
flooring and finishes contractors to homebuilders, multifamily
builders, and big box home supply stores. During his tenure at ILG,
in early 2018, he guided the company through its merger with
Interior Specialists, ILG’s largest competitor. From 2016 to 2017,
Mr. Pirrello was the CFO of UCP, Inc. (NYSE: UCP), a San Jose-based
land developer and homebuilder that was acquired by Century
Communities in 2017. Before UCP, Mr. Pirrello spent most of his 30
years in homebuilding with large public and private builders,
including PulteGroup, Inc. (NYSE: PHM), NVR, Inc. (NYSE: NVR),
First Homebuilders of Florida, and BCB Homes, in markets throughout
the United States. He has raised billions of dollars in capital,
both public and private, and including debt and equity. Mr.
Pirrello has extensive experience in M&A transactions and
homebuilding operations. Mr. Pirrello earned two MBAs, from
Columbia University and the University of California at Berkeley, a
Masters in Education from The George Washington University, and his
undergraduate degree in accounting from Juniata College.
Robert Dozier, Vice Chairman of the Company’s board of
directors, added, “On behalf of the Board, I want to sincerely
thank Michael for his leadership and dedication to the company that
he built. Michael has ably steered this company through headwinds
in the homebuilding industry and capitalized on tailwinds,
overseeing the company’s rapid growth into a premier homebuilder in
the Carolinas. We are grateful for the opportunity to continue to
work together in his role as Executive Chairman. With his energy
and focus on the company’s strategic direction, we look forward to
what the future will bring for the company.” Mr. Dozier continued,
“We are excited to have Jamie step into the role of interim Chief
Executive Officer. Jamie has a proven track record of operational
excellence over his decades in the homebuilding industry, and we
have confidence in his leadership of the company through this
transition.”
About United Homes Group, Inc.
UHG is a publicly traded residential builder headquartered in
Columbia, SC. The company focuses on southeastern markets with 59
active communities in South Carolina, North Carolina and
Georgia.
UHG employs a land-light operating strategy with a focus on the
design, construction and sale of entry-level, first move-up and
second move-up single-family houses. UHG currently designs, builds
and sells detached single-family homes, and, to a lesser extent,
attached single-family homes, including duplex homes and town homes
in three major market regions in South Carolina: Midlands, Upstate,
and Coastal, and also has a presence in Georgia and North Carolina.
UHG seeks to operate its homebuilding business in high-growth
markets, with substantial in-migrations and employment growth.
Under its land-light lot operating strategy, UHG controls its
supply of finished building lots through lot option contracts with
third parties, related parties, including its Land Development
Affiliates, and land bank partners, which provide UHG with the
right to purchase finished lots after they have been developed by
the applicable third party or related party. This land-light
operating strategy provides UHG with the ability to amass a
pipeline of lots without the same risks associated with acquiring
and developing raw land.
As UHG reviews potential geographic markets into which it could
expand its homebuilding business, either organically or through
strategic acquisitions, it intends to focus on selecting markets
with positive population and employment growth trends, favorable
migration patterns, attractive housing affordability, low state and
local income taxes, and desirable lifestyle and weather
characteristics.
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version on businesswire.com: https://www.businesswire.com/news/home/20240924777545/en/
Investor Relations Contact: Drew Mackintosh
drew@mackintoshir.com Mobile: 310-924-9036
Media Contact: Erin Reeves McGinnis
erinreevesmcginnis@unitedhomesgroup.com Phone: 844-766-4663
United Homes (NASDAQ:UHG)
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