TRI Pointe Group (NYSE: TPH) said Monday that Mike Grubbs, co-founder, chief financial officer and treasurer, will retire on January 1, 2020, concluding a 32-year career in home building and real estate finance. Grubbs will be succeeded by Glenn Keeler, current chief accounting officer, also effective January 1, 2020.
Grubbs co-founded TRI Pointe Group, formerly TRI Pointe Homes, in May 2009 with CEO Doug Bauer and president/COO Tom Mitchell and has served continuously in that role during the past decade. In that time, the company has grown from a small regional home builder launched in the aftermath of the housing downturn to a coast-to-coast company that surpassed $3 billion in revenue in 2018.
"Mike will always hold a special place in TRI Pointe’s history and in our hearts for being one of the founding members of our company and keeping us on solid financial footing during our first ten years,” said Bauer. “The best practices he established and his financial acumen during his tenure as CFO will be a legacy that propels TRI Pointe Group into the future.”
"It has been a truly rewarding experience to see how far TRI Pointe has come in the past decade,” said Grubbs. “The greatest honor though, has been working with Doug, Tom and the rest of our outstanding team. As I prepare for the next phase of my life, I am confident that TRI Pointe Group will continue to excel with Glenn leading the finance and accounting efforts.”
Keeler joined TRI Pointe in 2013 as corporate controller, and was named chief accounting officer in 2014. During his time at the company, Keeler has provided leadership over the accounting, financial planning, and information technology teams. Mr. Keeler also led the financial integration of the five home-building brands acquired in the WRECO merger. Keeler started his career at Ernst & Young LLP and previously held executive finance roles with other publicly traded companies prior to joining TRI Pointe Group.
“Taking over the role of chief financial officer from Mike is an honor and a privilege given the legacy he leaves behind and the opportunities that lie ahead for TRI Pointe Group,” Keeler said. “I am very excited to combine our team’s efforts and the company’s many advantages as we focus on the next chapter for TRI Pointe Group.”
Bauer consluded, “As TRI Pointe Group enters its next decade with our Next10 Strategy, Glenn will be instrumental in helping us continue our growth while maintaining strong discipline over the company’s balance sheet. His strong skills and intimate knowledge of the company’s operations, strategy and financials will no doubt make this a seamless transition.”
