Standard Pacific Homes' CEO Ken Campbell has announced that he is resigning his job and his board of directors position effective January, saying that a former chief of the firm's Orange County division will be his successor, according to the Orange County Register.
Scott Stowell, the firm's current president and one of the few executives to survive a shakeup that followed the housing market crash, will become the Irvine-based homebuilder's new CEO.
Stowell has been with Standard Pacific since 1986, rising in the ranks to Orange County division chief, Southern California division chief and chief operating officer before being named company president in March.
Campbell joined the firm as part of a takeover by private equity firm MatlinPatterson Global Advisers LLC.
MatlinPatterson injected a half billion dollars into the firm and saved it from bankruptcy.
For more information: www.ocregister.com/articles/chief-316974-division-campbell.html
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