PulteGroup CFO to retire, successor to be named

BLOOMFIELD HILLS (AP) -- PulteGroup Inc. said last Friday that Chief Financial Officer Roger Cregg will retire from the homebuilder later this year once a successor is named. The Bloomfield Hills-based company said it has hired the search firm Heidrick & Struggles to identify candidates to replace Cregg. The 54-year-old's departure date is uncertain, PulteGroup spokesman Travis Parman said. Cregg, who also holds the title executive vice president, has been with PulteGroup for 13 years, starting as senior vice president and CFO. He was promoted to executive vice president in 2003. "With the worst of the recession behind us, the market stabilizing and the company beginning to realize the benefits of its strategic initiatives, now is an appropriate time for me to retire from PulteGroup," Cregg said in a news release. Chairman, President and CEO Richard Dugas said Cregg "expertly guided our financial operations" during a crucial period in PulteGroup's history. Cregg's retirement plans were announced after shares of PulteGroup rose 2 cents to close at $7.78. Published: Tue, Feb 22, 2011