Sept 8 U.S. homebuilder PulteGroup Inc
said it appointed Ryan Marshall chief executive, effective
The company also added Bill Pulte, the grandson of founder
and largest shareholder William Pulte, to its board.
Marshall will replace Richard Dugas, who announced his
retirement in April, bowing to pressure from William Pulte.
Marshall was most recently the company's president,
responsible for its homebuilding, marketing and strategy
operations, PulteGroup said on Thursday.
PulteGroup, which was the No.2 U.S. homebuilder until 2014,
has been unable to take full advantage of a steady recovery in
the nationwide housing market as its biggest market, Texas, has
been hurt by a sharp drop in oil prices.
In July, William Pulte said in a letter to shareholders that
the company had a lot of ground to cover, mainly on cost
controls and home sales.
PulteGroup shares were down slightly at $21.01 in morning
(Reporting by Arunima Banerjee in Bengaluru; Editing by Kirti