NVR Chairman Dwight Schar Intends To Retire; Paul Saville To Assume Executive Chairman Role

NVR Inc NVR revealed several executive officer and board changes.
Original NVR board members Dwight Schar, Manuel Johnson, and William Moran announced their intention to retire from NVR's board.
Schar has been Chairman of the board since September 1993 and is the founder of NVR.
Paul Saville, presently NVR's President and CEO, will stand for election to the board at the 2022 Annual Meeting of Shareholders. Effective upon his election to the board, Saville will be appointed Executive Chairman of the board and will relinquish the President and CEO positions.
Saville has been President and CEO of NVR since 2005 and has been employed by NVR since 1981.
The company has appointed Eugene Bredow as its President and Chief Executive Officer (CEO), effective upon Saville's role change.
Bredow joined the company in 2004 and has served as President of NVR Mortgage since April 2019.
Price Action: NVR shares are trading lower by 1.52% at $4,720.20 on the last check Thursday.