Orleans Homebuilders in Bensalem, Penn., (AMEX:OHB) announced today that Michael T. Vesey, its president and COO, has taken a leave of absence related to an existing medical condition. The company said it doesn't know when Vesey will return.

Orleans will be spreading Vesey's responsibilities among existing management, including Chairman and CEO Jeffrey Orleans, during his absence. Orleans regularly tours many of the company's communities and takes a large role in operations. The company said it is confident that Vesey's responsibilities will be carried out effectively be existing management during his absence.

"We wish Mike a full and speedy recovery and look forward to his prompt return," Orleans said in a press release.