Irvine-based homebuilder Standard Pacific Corp. said Thursday it named Ken Campbell president and chief executive, the third chief executive the company’s had this year.
Campbell is a partner of New York-based private equity firm MatlinPatterson Global Advisors LLC.
MatlinPatterson became Standard Pacific’s largest shareholder in June, after announcing a $530 million financing deal with the company, Orange County’s largest homebuilder.
Campbell replaces Jeffrey Peterson, who stepped down as chairman, chief executive and president, but remains a director of the company.
Peterson took over the top spot of Standard Pacific in March, replacing long-time chief executive Stephen Scarborough. He spent much of the past nine months working to improve the company’s balance sheet, and helped put together the financing deal with MatlinPatterson.
Ronald Foell, a current director of the company, has assumed the role of non-executive chairman for the homebuilder, the company said. Foell served as president of Standard Pacific from 1969 through 1996.
