Home Builder Names William Boor CEO, Makes Other Changes as Cavco Reorganizes Leadership Team
One of the manufactured housing industry’s leading home builders has announced a series of executive changes. William Boor has been named CEO as Cavco Industries reorganizes its leadership team.
Boor had been the company’s non-executive chairman of the board. Acting CEO Dan Urness will resume his previous roles as executive vice president and CFO. Both changes will be effective April 15, 2019.
In other moves, Steven Bunger takes over as non-executive chairman. Additionally, Richard Kerley takes the position of chairman of the company’s Audit Committee. Both board and committee changes are effective immediately.
Executive changes at Cavco began Nov. 8, 2018, when the company announced former CEO Joe Stegmayer would step away from daily operations. The changes followed a subpoena from the U.S. Securities and Exchange Commission to obtain documents associated with Stegmayer and stock trades of another public company.
Boor Has Long History with Cavco Industries
Boor takes leadership after more than 10 years of experience with Cavco. He joined Cavco as an independent member of the board in 2008. Prior to that time, Boor held the position of vice president of corporate development at Centex Corp. During that time, Cavco was a subsidiary of Centex.
“After thoughtful consideration of options to strengthen the management team, the board concluded Bill is the right choice to assume the CEO role,” Bunger said in a statement. “Bill is a strong and proven leader, who has a successful track record of managing large, complex businesses and working across a range of executive roles in public companies. His significant knowledge and insights into Cavco’s business, from his tenure on the board and previous strategic work with the company, provide the immediate and long-term ability needed to lead the execution of our strategic plan and focus on operational excellence.”
Board members for the builder of manufactured homes thanked Urness for his leadership and contributions during the last five months as acting CEO.
“Cavco’s strong track record speaks for itself, and we remain very well-positioned for the future,” Boor said. “I’m excited to have the opportunity to lead the company’s next chapter, working closely with the board and the entire Cavco team.”