Two of William Lyon Homes’ top executives, the CFO and COO, have left in recent weeks, and the founder’s son has been appointed to fill one of the positions.
Michael D. Grubbs, the company’s senior vice president and CFO, resigned April 27, according to the California-based builder. Colin T. Severn, the company’s corporate controller and secretary, will replace Grubbs on an interim basis. Severn, 38, has worked at the company since December 2003 when he was hired as financial controller.
Earlier this spring, the company also lost President and COO Douglas F. Bauer, who resigned in March to spend more time with his family and to pursue personal interests, according to the company. Bauer, who joined William Lyon Homes in 1988, served as CFO, president of the Northern California region, and executive vice president before he became COO and a board member in 2007.
His replacement is William H. Lyon, son of company founder General William Lyon. Previously, William H. Lyon had been an executive vice president of William Lyon Homes and president of William Lyon Financial Services, the company’s mortgage brokerage subsidiary. “William H. Lyon joined the company in November 1997 and has served in a number of positions designed to expose him to the many facets of real estate development,” the announcement said.
William H. Lyon has a dual bachelor’s of science degree in industrial engineering and product design from Stanford University.
“We are pleased that William H. Lyon will be taking on additional responsibilities as president and COO,” General Lyon said in the prepared statement on his son’s appointment. “As executive vice president and president of William Lyon Financial Services, he has demonstrated a keen business acumen and strong leadership ability.”
Teresa Burney is a senior editor at BUILDER and BIG BUILDER magazines.
Learn more about markets featured in this article: Los Angeles, CA.
