ARLINGTON, Texas, Nov. 17 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), Monday (November 17, 2003) announced that effective
November 25, 2003, its Board of Directors will include a majority of
independent directors. Independent directors will be Bradley S. Anderson,
Michael R. Buchanan, Richard I. Galland and Francine I. Neff. Other board
members will be Donald R. Horton, Chairman; Donald J. Tomnitz, Vice Chairman,
President and Chief Executive Officer and Bill W. Wheat, Executive Vice
President and Chief Financial Officer.
In order to achieve the independent director majority, the following
directors are resigning: Richard Beckwitt, Samuel R. Fuller, Richard L.
Horton, Terrill J. Horton, James K. Schuler and Scott J. Stone. Sam Fuller
will continue with the Company as Senior Executive Vice President, Jim Schuler
is our West Region President and Scott Stone is the President of our Atlanta
Donald R. Horton, Chairman of the Board, said, "We would like to thank all
the retiring members of the board for their years of insight and guidance
while serving on our board. Our Company has accomplished exceptional
financial performance and growth during their tenure. While they will be
missed, we are pleased to announce our corporate governance advancement with
an independent board."
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes under the D.R.
Horton, Cambridge, Continental, Dietz-Crane, Emerald, Melody, Milburn,
Schuler, Stafford, Torrey, Trimark, and Western Pacific names in 20 states and
47 markets, with a geographic presence in the Midwest, Mid-Atlantic,
Southeast, Southwest and Western regions of the United States. The Company
also provides mortgage financing and title services for homebuyers through its
mortgage and title subsidiaries.
WEBSITE ADDRESS: www.DRHORTON.com
SOURCE D.R. Horton, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding D.R. Horton's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.