KB Home taps Lowe’s director for board
Los Angeles-based KB Home has named Black Entertainment Television founder Robert Johnson to its board of directors.
Johnson, who both founded and formerly served as CEO for BET, is a majority owner of the Charlotte Bobcats NBA team. Johnson currently serves on the board of directors for Lowe’s and IMG worldwide. He is the eleventh member of the KB Home board.
Most recently, second-quarter revenues declined 54 percent at the home builder, to $639.7 million from $1.41 billion in the same period last year. Losses for the second quarter were $255.9 million, wider than the $148.7 million in losses recorded in the same period last year.
KB Home has operating divisions in nine states.