- After about six years in the position
- Praise, thanks and good wishes for Bartok
- Andy Oxley taking over
- Bartok said 73 words
(exechange) — Arlington, Texas, November 28, 2023 — Dan Bartok, chief executive of Forestar, leaves his position. As announced by Forestar Group Inc. in a news release and in a regulatory filing published on Tuesday, November 28, 2023, Daniel C. (Dan) Bartok leaves his post as chief executive officer at the residential lot developer, after about six years in the role, effective January 1, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Dan Bartok’s duties as CEO will be taken over by Anthony W. (Andy) Oxley, currently Senior Vice President – Business Development at D.R. Horton, Inc.
In October 2017, Forestar became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002.
No reason given
In the announcement, Forestar did not explicitly explain the reason for the move.
Precise information regarding Dan Bartok’s future plans was not immediately available.
“Retirement”
Forestar said: “Forestar Group Inc. (“Forestar”) (NYSE: FOR), a leading national residential lot developer, today announced the retirement of Daniel (Dan) C. Bartok and the appointment of Anthony (Andy) W. Oxley as President and Chief Executive Officer (CEO), effective January 1, 2024.”
Forestar further said: “Forestar Group Inc. (“the Company”) announced the upcoming retirement of Daniel C. Bartok, President and Chief Executive Officer, effective January 1, 2024.”
Share price increase since November 2018
The announcement follows an increase in Forestar Group Inc.’s share price of 78% since November 2018.
In the position of CEO since 2017
Dan Bartok became CEO of the Company in 2017.
Bartok will support Forestar in a consulting role for an extended period to ensure a seamless transition.
Daniel C. Bartok, is Chief Executive Officer of Forestar, a position he has held since December 2017.
Prior to joining Forestar, he served as Executive Vice President of Wells Fargo Bank as head of its Owned Real Estate Group from 2008 to 2017.
Prior to joining Wells Fargo, he was President of Clarion Realty, Inc., a real estate development company operating across multiple states, with an emphasis on residential land development and homebuilding.
Bartok began his career at Price Waterhouse LLP (now PricewaterhouseCoopers LLP).
Bartok holds a Bachelor of Science degree in accounting from the University of Illinois.
73 words by Dan Bartok
In the release announcing his departure as CEO of Forestar Group Inc., Dan Bartok received praise, thanks and good wishes.
In announcing his departure, Dan Bartok said 73 words.
“Continued growth and success”
Dan Bartok stated: “It has been an honor to serve as CEO of Forestar for the past six years. I am proud of our work to become one of the largest residential community developers in the country, with a strong balance sheet and blueprint for long-term growth. I want to express my thanks to the entire Forestar team for their incredible efforts, and I look forward to seeing Forestar’s continued growth and success in the future.”
Push-out Score for Dan Bartok’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Dan Bartok was pushed out or felt pressure to leave his position.
exechange reached out to Forestar and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 49.2023 ($).