United Homes Group, Inc. (NASDAQ:UHG) announced in the early hours of Monday that it would be appointing a new CEO, John G. (Jack) Micenko, Jr. A press release published on the UHG’s website stated:
“The appointment of John G. (Jack) Micenko, Jr., as Chief Executive Officer of the Company and Jeremy Pyle as co-Chief Operating Officer of the Company, and simultaneously therewith announced that its Board of Directors has appointed a special committee comprised solely of independent directors and initiated a review of strategic alternatives in order to explore ways to maximize shareholder value.”
A wide shot of a residential housing development taking shape with heavy machinery in the foreground.
The review will also include a range of potential strategic alternatives, including a sale of the company, a sale of assets, and a refinancing of existing indebtedness, among others. It also stated that the committee has engaged Vestra Advisors as its financial advisor, in connection with the review, and has engaged Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal advisor.
Meanwhile, Mr. Micenko’s successor, Mr. James M. (Jamie) Pirrello, (the company’s Interim Chief Executive Officer) will continue to serve as a member of the Company’s board of directors.
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