Smith Douglas Homes Announces Leadership Changes

Rhea-AI Summary

Smith Douglas Homes (NYSE: SDHC) has announced key leadership changes. Eddy Kleid, formerly VP of Finance, will become Division President of the new Central Georgia Division. Eddy has been with the company since 2017 and has played a significant role in their recent IPO. Joe Thomas joins as the new SVP of Accounting & Finance, bringing extensive experience from Bank of America Securities. Joe also contributed to the Smith Douglas IPO and holds degrees from Bucknell and Cornell. CEO Greg Bennett believes these changes will fuel the company’s growth and success.

Positive

• Appointment of Eddy Kleid as Division President for Central Georgia Division, potentially driving regional growth.
• Joe Thomas joins as SVP of Accounting & Finance, bringing extensive experience from Bank of America Securities.
• Joe Thomas played a important role in the company's recent IPO, indicating strong financial leadership.

Negative

• Leadership transitions might pose short-term challenges in maintaining operational continuity.

ATLANTA--(BUSINESS WIRE)-- Smith Douglas Homes Corp. (NYSE: SDHC) announced two significant leadership changes within the organization that will support the company’s continued growth and success.

First, Eddy Kleid will be taking on the role of Division President for the company’s newly established Central Georgia Division. Eddy has been a valued member of the Smith Douglas team since 2017, serving as VP of Finance. During his tenure, Eddy has helped grow the finance team and played an integral part in the Company’s recent IPO.

Additionally, the company welcomes Joe Thomas as its new SVP of Accounting & Finance. Joe joins from Bank of America Securities, where he served as Director, providing corporate finance, M&A advisory, and capital raising support to REITs, operating companies, sponsors, and private investors in the real estate, homebuilding, gaming, and leisure sectors. Joe played a crucial role in the Smith Douglas IPO and brings a wealth of experience and insight to the team. He holds a BSBA in Accounting and Economics from Bucknell University and an MBA from Cornell University.

“Eddy’s entrepreneurial spirit and finance expertise make him a great choice to lead the new Central Georgia Division, while Joe is a natural fit to lead our Accounting and Finance teams, given his work history and background. We are excited about the future and the continued growth and success these leadership changes will bring,” said Greg Bennett, Chief Executive Officer of Smith Douglas Homes.

About Smith Douglas Homes

Headquartered in Woodstock, Georgia, Smith Douglas Homes completed its initial public offering in January 2024. Since its inception, Smith Douglas has been entrusted by over 15,000 families to fulfill their new home dreams. Ranked a top 50 builder nationally for several years and with 2,297 closings in 2023, Smith Douglas currently holds the #36 position on the Builder Magazine Top 100 list. The Smith Douglas communities are primarily targeted to entry-level and empty-nest homebuyers looking to purchase a new home priced below the Federal Housing Administration loan limit in the metro areas of Atlanta, Birmingham, Charlotte, Houston, Huntsville, Nashville, and Raleigh. Smith Douglas offers its homebuyers a personalized, affordable luxury buying experience at attractive prices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240630131169/en/

Investor Relations Contact:

Drew Mackintosh

(310) 924-9036

investors@smithdouglas.com

Source: Smith Douglas Homes Corp.

FAQ

What leadership changes did Smith Douglas Homes announce?

Smith Douglas Homes announced Eddy Kleid as Division President for the new Central Georgia Division and Joe Thomas as SVP of Accounting & Finance.

What is Eddy Kleid’s new role at Smith Douglas Homes?

Eddy Kleid has been appointed as Division President for the new Central Georgia Division.

Where did Joe Thomas work before joining Smith Douglas Homes?

Joe Thomas worked at Bank of America Securities as Director.

What role did Joe Thomas play in the Smith Douglas IPO?

Joe Thomas played a important role in Smith Douglas Homes' IPO, leveraging his corporate finance expertise.

What qualifications does Joe Thomas bring to Smith Douglas Homes?

Joe Thomas holds a BSBA in Accounting and Economics from Bucknell University and an MBA from Cornell University.

How long has Eddy Kleid been with Smith Douglas Homes?

Eddy Kleid has been with Smith Douglas Homes since 2017.