Homebuilding giant PulteGroup said one of its longtime employees will take over as chief financial officer next year when current CFO Bob O’Shaughnessy retires.
O’Shaughnessy, who joined Pulte 13 years ago and also serves as an executive vice president, will remain CFO through the final certification of its 2024 financial statements in February, the Atlanta-based company said Monday. Pulte also said it has promoted finance Senior Vice President Jim Ossowski to CFO and executive vice president effective upon O’Shaughnessy’s retirement from the chief financial officer role.
O'Shaughnessy will continue to serve as executive vice president through the end of 2025 and support the transition to Ossowski, Pulte said. O'Shaughnessy also will oversee Pulte's financial services business, strategic partnerships and asset management committee during that time, the company said.
For a publicly traded company such as PulteGroup, the CFO is one of two executives who certify by signature their company's periodic financial reports, including quarterly earnings statements. Pulte, one of the largest U.S. homebuilders with operations in more than 45 markets, plans to announce its second-quarter earnings on Tuesday.
“Bob has been a key strategic advisor and architect of our Company’s transformation over the past decade," CEO Ryan Marshall said in a statement. "PulteGroup is a performance leader in the homebuilding industry because of the impact of Bob’s insights and strong financial stewardship."
Marshall added that Ossowski's promotion "highlights PulteGroup’s deep talent bench and long-term succession planning." Ossowski currently is responsible for all finance and accounting activities for its $16 billion homebuilding operations, the company said.
Effective Jan. 1, Ossowski’s annual base salary will be $650,000, according to a filing PulteGroup made Monday with the Securities & Exchange Commission. His annual incentive bonus target will be $1.3 million, and his long-term incentive award opportunity target will be $1.8 million, according to the filing.
Ossowski, 56, has been with Pulte for 22 years.
Pulte portfolio includes the Centex, Pulte Homes, Del Webb, American West and John Wieland Homes brands.
