Source: Excerpts from Globe News Wire press release – Legacy Housing Corporation, a leading manufactured home producer, announced the completion of a significant company realignment, including its new Legacy 250 initiative and a refresh of its management structure.
In anticipation of the Nation’s 250th Anniversary, Legacy has reimagined its category-leading manufactured homes to focus on delivering the American Dream. “Legacy Homes are taller, wider, and better,” said Company co-founder and Director Curtis Hodgson. “With taller roof pitches, the widest floors in class and vaulted ceilings in every room, we offer a unique product that families can be proud to call home.”
Legacy’s realignment includes a change to the Company’s executive leadership team. Following a comprehensive year-long strategic review conducted by the Company’s Board of Directors with assistance from a leading investment banking firm, the Company’s Chief Executive Officer, Chief Financial Officer, and General Counsel have resigned. While the board of Directors is evaluating candidates for the Company’s new management team, Company co-founder and Chairman Kenny Shipley will serve as interim Chief Executive Officer, and Company veteran Ron Arrington will serve as interim Chief Financial Officer. This transaction reflects Legacy’s commitment to aligning its leadership and operations with a renewed focus on its core manufacturing competencies.
The strategic review highlighted the Company’s strength in producing the highest quality manufactured homes in the industry, as well as significant progress in its administrative systems. With those systems now in place, Legacy will develop a management team to prioritize operational excellence and innovation in manufacturing. “This Legacy team has navigated the pandemic, rapid inflation, changes to interest rates, and secular industry changes,” said Mr Hodgson. Looking forward, the Board of Directors is focused on a team and corporate structure that will enhance Legacy’s ability to maximize the value of its assets on the balance sheet, improve efficiency, and deliver unparalleled value to the Legacy family of homeowners.”
“ At the end of the day, we want Legacy homeowners to sleep well in our homes,” Mr.Shipley said, “and Legacy investors to sleep well at night owning our stock.”
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