Centex Announces That Leldon E. Echols, Executive Vice President and Chief Financial Officer, Will Leave Company Effective June 30, 2006
Egon Zehnder International to Assist in Search for Successor
DALLAS, Feb. 23 -- Centex Corporation (NYSE: CTX)
announced today that Leldon E. Echols, Executive Vice President and Chief
Financial Officer, plans to leave the company effective June 30, 2006. Mr.
Echols, who has held the CFO position at Centex since June of 2000, has agreed
to assist in the transition for a new CFO when that person is identified. The
company has retained Egon Zehnder International, a leading executive search
firm, to assist in the search for Mr. Echols' successor.
"Lel has played a significant role in helping guide our company through a
period of tremendous growth and change over the past six years," said Tim
Eller, Chairman and CEO. "As part of the Centex management team, Lel has been
instrumental in sharpening the company's focus on our home building businesses,
and ensuring that we are well positioned to continue delivering strong
performance in the future. We appreciate his many contributions and are
grateful to him for working with us to ensure a smooth transition."
"I am very happy to have been a part of building Centex into one of the
country's premier home builders and believe the company has a very bright
future," said Echols. "I am proud to have helped to reposition Centex
strategically and to have done so in a way that has delivered significant
returns to shareholders. Serving as CFO at Centex has been tremendously
exciting and fulfilling. I am now very much looking forward to stepping back,
so that I can spend more time pursuing my other interests."
Dallas-based Centex, founded in 1950, is one of the nation's leading home
building companies. Centex Homes operates in major U.S. markets in 25 states
and delivered more than 33,000 homes in the United States in its most recent
fiscal year ended March 31, 2005. Its leading brands include Centex Homes,
Fox & Jacobs Homes, CityHomes and Centex Destination Properties.
In addition to its home building operations, Centex's
(http://www.centex.com ) related business lines include mortgage and financial
services, home services and commercial construction. These businesses provide
operational or financial support to home building operations and are leaders
in their respective industries. Centex consistently ranks among the most
admired companies in its industry, according to FORTUNE magazine.