PulteGroup’s founder urged the Atlanta homebuilder to pick as its next leader someone with plenty of experience running a similar company, including in tough times.
“PulteGroup needs a real seasoned veteran, not someone who will be learning on the job,” said 83-year-old company founder Bill Pulte, who has been involved in a months-long spat with his namesake company to push out its current CEO, Richard Dugas.
PulteGroup announced in April that Dugas, 50, will retire in May 2017 as part of an accelerated succession plan. A board of directors committee has hired executive search firm Heidrick & Struggles to help with the search for a successor.
Pulte, the company's largest shareholder, has said he is unhappy with the company's performance, which has lagged other homebuilders. He also questioned the Dugas-led decision to move the headquarters to Atlanta from suburban Detroit in 2014.
Pulte said in a letter he disclosed Wednesday that he has suggested candidates to replace Dugas, and urged the company to find a replacement by July 31.
PulteGroup thanked Pulte for his proposed candidates, but in effect said his job was done.
The company is running “a thorough, but highly confidential search process … so you involvement must be limited,” company director Patrick O’Leary said a letter to Pulte, disclosed Wednesday.
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