- Push-out Score determined
- After almost 17 years in the position
- Eugene Bredow taking over
- Saville will remain as Executive Chairman at NVR
(exechange) — Reston, Virginia, March 24, 2022 — Paul Saville, chief executive of NVR, leaves his position. As announced by NVR Inc. in a news release and in a regulatory filing published on Thursday, March 24, 2022, Paul C. Saville leaves his post as chief executive officer at the homebuilding and mortgage banking company, after almost 17 years in the role, effective May 4, 2022.
It is the end of an era.
Paul Saville’s duties as CEO will be taken over by Eugene J. Bredow, currently President of NVR Mortgage.
No reason given
In the announcement, NVR did not explicitly explain the reason for the move.
Saville will remain as Executive Chairman at NVR
“Paul C. Saville, age 66, presently NVR’s President and Chief Executive Officer, will stand for election to the Board at the 2022 Annual Meeting of Shareholders. Effective upon his election to the Board, Mr. Saville will be appointed Executive Chairman of the Board and will relinquish the President and CEO positions,” NVR said.
“Relinquish the President and Chief Executive Officer positions”
NVR said: “Dwight C. Schar, Chairman of NVR’s Board of Directors, (the “Board”) will be retiring effective May 4, 2022, the end of Mr. Schar’s current term. The Board has in turn approved the nomination of Paul C. Saville, currently President and Chief Executive Officer, to stand for election to the Board at the 2022 Annual Meeting of Shareholders on May 4, 2022. Effective upon election to the Board, Mr. Saville will be appointed Executive Chairman of the Board and will relinquish the President and Chief Executive Officer positions.”
Share price increase since March 2012
The announcement follows an increase in NVR Inc.’s share price of 595% since March 2012.
In the position of CEO since 2005
Paul Saville became CEO of the Company in 2005.
Paul C. Saville was named President and Chief Executive Officer of NVR effective July 1, 2005.
Saville has been employed by NVR since 1981.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Paul Saville’s move on a scale of 0 to 10.
exechange reached out to NVR and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 13.2022 ($).