Taylor Morrison Appoints Lou Steffens as Next Chief Financial Officer

Rhea-AI Summary

Taylor Morrison Home Corporation (TMHC) has appointed Lou Steffens as its new Chief Financial Officer effective January 1, 2022. Steffens, previously the President of Mergers and Acquisitions, brings over 30 years of industry experience, having led significant acquisitions that have increased the company's operational scale. He succeeds Dave Cone, who is retiring after nine years in the role. Chairwoman and CEO Sheryl Palmer expressed confidence in Steffens' ability to drive the company forward, emphasizing operational excellence in their strategic journey.

Positive

• Lou Steffens' promotion brings over 30 years of financial and homebuilding experience.
• Track record of leading six successful acquisitions, enhancing operational scale.
• Steffens' leadership expected to foster operational excellence and shareholder value.

Negative

• Transition may present challenges as Steffens takes over from a long-serving CFO.
• Concerns about continuity in financial leadership during the transition period.

SCOTTSDALE, Ariz., Oct. 27, 2021 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC), the nation's fifth largest homebuilder and developer, today announced that it has appointed Lou Steffens, its current President of Mergers and Acquisitions, as the Company's next Chief Financial Officer. Steffens, a dynamic leader with more than 30 years of homebuilding and financial experience, will succeed current Chief Financial Officer Dave Cone, who is set to retire at the end of 2021.

Taylor Morrison Appoints Lou Steffens as Next Chief Financial Officer

 "Following an extensive search and interview process of both internal and external candidates, I am proud that we were able to pull from our bench of talented leaders to fill this position," said Taylor Morrison Chairman and CEO Sheryl Palmer. "With Lou's significant background in finance and homebuilding operations coupled with his expertise in executing each of our acquisitions and integrations, he is uniquely qualified to help lead our Company in the next phase of its strategic journey focused on operational excellence."

Since Steffens joined Taylor Morrison in 2007, he has served as an area and regional president in various markets across the country and as a member of the Executive Leadership Team. As President of Mergers and Acquisitions, he led the organization through six successful acquisitions and integrations that added meaningful operational scale and geographic breadth that transformed the Company's ability to generate long-term shareholder value. Most recently, he has overseen the Company's Results Management Office, where he has spearheaded operational initiatives further enhancing the Company's financial results.

"After helping to guide the Company through significant growth via acquisitions, I am excited about the opportunities we have ahead to fully take advantage of the scale and efficiencies we gained since becoming one of the nation's largest homebuilders," said Steffens. "With the strong foundation developed by Dave, I am confident in the positive momentum he has helped to establish and look forward to working even more closely with our finance team to expedite the execution of our strategic plan."

Prior to joining Taylor Morrison, Steffens worked for two national homebuilders, Pulte Group and Beazer Homes, where he served as a regional and division president in multiple markets. Before that, he spent several years in financial roles with both corporate and field responsibilities within audit, accounting and finance. Steffens holds a bachelor's degree in accounting from Michigan State University.   

After a nine-year history at Taylor Morrison, Executive Vice President and Chief Financial Officer Dave Cone is set to retire at the end of this year.

"It is with tremendous pride and a high level of confidence that I'll be leaving Taylor Morrison in Lou's capable hands. I know he will build upon the financial and operational advantages that we have created and will continue to drive meaningful results in the years ahead. I look forward to watching the Company's continued success," said Cone.

After a collaborative transition with Cone, Steffens will officially assume the Chief Financial Officer position on Jan. 1, 2022.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is the nation's fifth largest homebuilder and developer. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and 55-plus active lifestyle homebuyers under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison and Christopher Todd Communities built by Taylor Morrison. From 2016-2021, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research. Our strong commitment to sustainability, our communities and our team is highlighted in our latest annual Environmental, Social and Governance (ESG) Report.

For more information about Taylor Morrison, please visit www.taylormorrison.com.

Forward-Looking Statements

This press release includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements related to expected financial, operating and performance results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in the future. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in our most recent Annual Report on Form 10-K, including those described under the heading "Risk Factors" in Part I, Item 1A.

CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com

 

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SOURCE Taylor Morrison

FAQ

Who has been appointed as the new CFO of TMHC?

Lou Steffens has been appointed as the new Chief Financial Officer of Taylor Morrison Home Corporation.

When will Lou Steffens officially assume his role as CFO?

Lou Steffens will officially take on the role of CFO on January 1, 2022.

What experience does Lou Steffens bring to TMHC as CFO?

Steffens has over 30 years of experience in homebuilding and finance, including leadership in multiple acquisitions.

Why is Dave Cone retiring from TMHC?

Dave Cone is retiring after a nine-year tenure as CFO, with a focus on ensuring a smooth transition.

What impact is expected from Steffens' appointment on TMHC's strategy?

His appointment is expected to enhance operational efficiency and drive the company's strategic initiatives.