KB Home CFO Jeff Kaminski to Retire in 2025 After 14 Years
Announcement of Retirement of KB Home's CFO
KB Home (NYSE: KBH), one of the largest and most reputable homebuilders in the United States, has made a significant announcement regarding its executive management. Jeff J. Kaminski, the Executive Vice President and Chief Financial Officer, has decided to retire in early 2025. This decision comes after an impressive tenure spanning over 14 years in this key role. Kaminski will remain in his position until the filing of the company's 2024 Annual Report on Form 10-K, ensuring a smooth transition as KB Home undertakes its succession planning process to identify the next chief financial officer.
Recognizing Jeff Kaminski's Contributions
In expressing gratitude for Kaminski's extensive contributions, Jeffrey Mezger, the Chairman and Chief Executive Officer of KB Home, highlighted the invaluable role Kaminski has played in shaping the company’s financial structure. Since joining KB Home in 2010, he has been instrumental in architecting a returns-focused growth strategy, which has been a critical aspect of the company's success over the years. Mezger noted that under Kaminski's leadership, KB Home has maintained a strong balance sheet, characterized by a low debt-to-capital ratio and robust cash generation, resulting in substantial stockholder returns.
Kaminski's Personal Reflections
Speaking on his upcoming retirement, Kaminski expressed his deep appreciation for being part of KB Home. He stated, "It’s been the highlight of my career working with such a terrific team, successfully developing communities and delivering the American Dream to thousands of our homebuyers while also enhancing stockholder value." His words resonate with the culture at KB Home, highlighting their commitment to delivering personalized homes and exceptional service.
About KB Home's Legacy
For over 65 years, KB Home has established itself as a leader in the homebuilding industry. The company operates across 47 markets and has built more than 680,000 quality homes. It is lauded for being the #1 customer-ranked national homebuilder, as validated by numerous third-party buyer surveys. What truly sets KB Home apart is its dedication to fostering strong relationships with customers and providing an outstanding homebuying experience. This focus on personalization enables buyers to create homes that reflect their values, all while ensuring affordability.
Commitment to Sustainability
KB Home also leads the charge in sustainability within the homebuilding sector. The company has earned one of the highest residential energy-efficiency ratings and has delivered more ENERGY STAR certified homes than any other builder. These efforts significantly contribute to reducing the total cost of homeownership for their clients, aligning with a broader commitment to environmental responsible practices.
Looking Ahead
As Kaminski prepares to step down, KB Home remains poised for continued success. The company's unique business model, striking a balance between growth and sustainability, positions it favorably in the competitive homebuilding market. As KB Home moves forward, it is committed to standing out as a leading national homebuilder, ensuring that it continues to uphold its mission of delivering quality homes and exceptional customer experiences.
Frequently Asked Questions
Who is retiring from KB Home?
Jeff J. Kaminski, the Executive Vice President and Chief Financial Officer, is retiring in early 2025.
How long has Kaminski worked at KB Home?
Jeff Kaminski has served at KB Home for over 14 years.
What role did Kaminski play at KB Home?
He was instrumental in shaping the financial structure and implementing a returns-focused growth strategy at KB Home.
What is KB Home known for?
KB Home is known as one of the largest and most trusted homebuilders in the U.S., recognized for quality construction and customer relationships.
How does KB Home promote sustainability?
KB Home is a leader in sustainability, delivering many ENERGY STAR certified homes and focusing on energy efficiency in construction.
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