Irvine-based TRI Pointe Group Inc. (NYSE: TPH), the largest homebuilder based in Orange County, is getting a new chief financial officer next year.
Mike Grubbs said he will step down at the start of next year.
After his retirement in January, Grubbs will be replaced by Chief Accounting Officer Glenn Keeler, who has been with the firm since 2013.
Grubbs co-founded TRI Pointe, a homebuilder now with more than $3 billion in annual revenue, in 2009 with Chief Executive Doug Bauer and President and Chief Operating Officer Tom Mitchell.
His retirement marks the close of a 32-year career in homebuilding and real estate finance.
Bauer said in a statement that Grubbs helped keep the company “on solid financial footing” after the company launched in the aftermath of the housing downturn.
“The best practices he established and his financial acumen during his tenure as CFO will be a legacy that propels TRI Pointe Group into the future,” Bauer said.
Keeler joined TRI Pointe as corporate controller, and was named chief accounting officer the next year. He oversaw the accounting, financial planning, and information technology teams and also led the financial integration of the five homebuilding brands acquired from Weyerhaeuser Co. in 2014, a $2.8 billion deal.
Shares for TRI Pointe are up about 7% since the start of the year to $12.21 and a $1.8 billion market cap. It will release its second-quarter earnings on July 25.
