Joe Davis, chief investment officer and cofounder of The New Home Co., is stepping down from the Aliso Viejo-based homebuilder.
The builder, one of the most active in Orange County since its 2009 founding, said that Davis is stepping down from his role as an officer of the company later this month.
He will continue to serve as a consultant to the company under an agreement with an initial one-year term.
Prior to New Home Co., Davis headed up the residential development operations of Newport Beach-based Irvine Co.
As part of the change in management, Wayne Stelmar, the company’s chief financial officer and also a company founder, will assume the role of CIO at New Home Co.
John Stephens, most recently the senior vice president and chief financial officer of MDC Holdings Inc., will assume the role of chief financial officer for the builder, which went public last year and counts a market value of about $260 million.
