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United Homes (UHG) Appoints New CEO

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.

While we acknowledge the potential of UHG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than UHG and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Low Volatility Stocks to Buy Now and Starter Stock Portfolio: 12 Safe Stocks to Buy

Disclosure: None.

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