Standard Pacific CEO resigns
Standard Pacific Homes, the Southern California-based home builder, has announced that CEO Ken Campbell is leaving the company. Campbell will resign from his role as CEO and member of the board of directors on Jan. 1, 2012.
Scott Stowell, the company’s president, will now begin to assume day-to-day management of the company, according to a Jan. 12 filing with the Securities and Exchange Commission (SEC). Stowell will receive the title of CEO and will join the board of directors in January.
“I have served as Standard Pacific Homes’ CEO for almost three years, which is about as long as a restructuring guy like me should stick around,” said Campbell in a prepared statement. He added that the company’s sales growth this summer is “a strong indicator that our move-up strategy and land acquisition program is going to be successful.”
Stowell served as president of Standard Pacific since March 2011 and previously served as chief operating officer since 2007. He joined the company in 1986 and has held progressive roles, including president of the Orange County division and president of the Southern California region.
Standard Pacific Homes, one of the nation’s largest home builders, has built more than 113,000 homes during its 45-year history. The company operates in many of the largest housing markets in the country, including California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada.