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Tim Eller Becomes Centex Corporation President and COO; David Quinn Retires as Vice Chairman
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01/16/2005
DALLAS, Apr 2, 2002 - Centex Corporation (NYSE: CTX) said today that, as anticipated, Timothy R. Eller became Centex President and Chief Operating Officer (COO) effective April 1, 2002, the beginning of the company's fiscal year 2003.
In addition, Vice Chairman David W. Quinn retired effective March 31, 2002.
Mr. Eller, 53, is a 28-year career employee with Centex Homes, advancing through the organization as Superintendent, Project Manager, Division President and Executive Vice President before becoming the home building company's President and Chief Executive Officer in 1991 and its Chairman in 1998. In addition to becoming President and COO of Centex Corporation, Mr. Eller will retain his title and responsibilities as Centex Homes Chairman.
"Tim Eller has been the driving force behind Centex Homes' exceptional success over many years," said Centex Chairman and CEO Laurence E. Hirsch. "Centex Homes is currently the centerpiece of the Centex organization, and I'm pleased that Tim's knowledge and experience will now be available to our other businesses.
"Tim will be a critical part of raising Centex to the next level of size and profitability. We are fortunate to have such a talented executive internally who can assume this important role."
Mr. Quinn, 60, joined Centex Corporation in 1987 as Executive Vice President and Chief Financial Officer and was elected to the company's Board of Directors in 1989. He became Vice Chairman in 1996.
"David Quinn made innumerable extraordinary contributions to the Centex family of companies over the years," noted Mr. Hirsch. "His superb financial and unique transactional abilities, combined with his wonderful interpersonal skills, were an integral part of transforming Centex into the financially strong, multi-faceted company it is today. Centex and I both will miss him greatly, both personally and professionally."
Mr. Quinn will remain on the Centex Corporation Board of Directors and Mr. Eller will run for election to the Centex Board in July 2002.
Centex Corporation, through its subsidiaries, ranks among the nation's leading home builders, non-bank-affiliated retail mortgage originators and commercial contractors. Centex also has an investment real estate operation and currently owns the majority interest in Centex Construction Products, Inc., a separate publicly traded company. Centex Corporation ranks No. 1 for the third consecutive year on FORTUNE(R) magazine's list of "America's Most Admired Companies" in the engineering and construction category and last week was named No. 34 on Business Week magazine's list of the 50 Best Performing Companies.
SOURCE Centex Corporation
CONTACT: Sheila E. Gallagher, Vice President - Corporate Communications of Centex Corporation, +1-214-981-6503
