Posted on 04/11/2016 11:19:54 AM PDT by Cecily
Hiring Richard Dugas as the top executive at PulteGroup was “perhaps the biggest mistake of my career,” the founder of the Atlanta homebuilder said Monday.
Bill Pulte, the company’s former chairman and largest shareholder, said in a letter to the company’s board of directors that many of the company’s talented employees had left or been fired during Dugas’ tenure as CEO, and that its financial performance has stagnated.
He also criticized the company’s 2009 merger with rival Centex Corp. as the industry was still struggling with the real estate market’s crash. Dugas “must take responsibility for PulteGroup’s overly aggressive land purchases that led to significant write downs and losses,” said Pulte.
(Excerpt) Read more at ajc.com ...
My house is a Centex home. Very well designed and built. Their after sale customer service sucks large green donkey phallices.
That sounds bad..
I guess he lost money on his shares during a down market. No surprise.
Pulte built a very nice little retirement community on the outskirts of our town about a dozen years ago - overpriced to the initial buyers but the housing crash in 07-08 took care of that.....
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