Hovnanian Enterprises Inc. Announces Management Changes
June 23, 2016 at 04:28 pm EDT
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On June 22, 2016, Hovnanian Enterprises Inc. (the Company") announced that Thomas J. Pellerito, Chief
Operating Officer, will retire from the Company effective December 31, 2016. Mr. Pellerito will step down from
his position as Chief Operating Officer on October 31, 2016 and continue to assist the Company in an orderly
transition through the end of the 2016 calendar year. Mr. Lucian Theon Smith, III, age 56, has been appointed Chief Operating Officer, effective November 1, 2016. Mr. Smith joined the Company in April 2007 as a Region President and was promoted to Group President in January 2010. Most recently Mr. Smith has served as Executive Vice President of Homebuilding Operations, a position he has held since August 2015.
Hovnanian Enterprises, Inc., through its subsidiaries, conducts all of its homebuilding and financial services operations. Its segment includes Homebuilding and Financial services. The Homebuilding segment consists of three segments: Northeast (Delaware, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, Virginia and West Virginia); Southeast (Florida, Georgia and South Carolina), and West (Arizona, California and Texas). The Homebuilding segments are engaged in the sale and construction of single-family attached and detached homes, attached town homes and condominiums, urban infill and active lifestyle homes in planned residential developments. It also includes sales of land. The Financial services segment provides mortgage banking and title services to homebuilding operations customers. Its residential development activities include site planning and engineering, obtaining environmental and other regulatory approvals and constructing roads, drainage facilities and others.
HOVNANIAN ENTERPRISES, INC. 
