KB Home (NYSE:KBH), one of America’s largest
homebuilders, today announced that Robert L. Johnson was unanimously
elected to the company’s board of directors,
bringing the total number of directors to 11, of which 10 are
independent.
“Bob is one of the premier business leaders in
America today,” said Stephen Bollenbach,
chairman of the board of KB Home. “One of the
true measures of a leader is someone who not only has answers but who
asks the right questions and always looks for ways to improve and
innovate. Having had the privilege of serving with him on the board of
directors for Hilton Hotels, I know firsthand the caliber of thinking he
brings to the table.”
“Bob has an incredible and unique depth of
experience in real estate, finance and brand-building that will be
invaluable as KB Home moves forward from the current housing market,”
said Jeffrey Mezger, president and chief executive officer of KB Home. “His
fresh perspective and visionary ideas will help to guide us as we build
on our 50-year history to create the future of KB Home.”
About Robert L. Johnson
Mr. Johnson is founder and chairman of The RLJ Companies, a business
network that owns or holds interests in a diverse portfolio of companies
in the financial services, real estate, hospitality/restaurant,
professional sports, film production, gaming and recording industries.
Mr. Johnson is also the majority owner of the Charlotte Bobcats, the
National Basketball Association’s (NBA)
franchise located in Charlotte, North Carolina. In acquiring the
Bobcats, Mr. Johnson became the first African-American majority owner of
a major professional sports franchise.
Prior to forming The RLJ Companies, Mr. Johnson was founder and chief
executive officer of Black Entertainment Television (BET), the first
African American-owned company publicly traded on the New York Stock
Exchange, which was acquired by Viacom Inc. in 2001. Mr. Johnson
continued to serve as chief executive officer of BET until 2006. Before
founding BET in 1979, Mr. Johnson served as vice president of government
relations for the National Cable & Telecommunications Association, a
trade association representing more than 1,500 cable television
companies.
Mr. Johnson serves on the Lowe’s Companies,
Inc. board of directors, the IMG Worldwide, Inc. board of directors, the
Strayer Education, Inc. board of directors, the NBA Board of Governors,
The Johns Hopkins University board of trustees, the Deutsche Bank
Advisory Committee, the Wal-Mart Diversity Committee, and The Business
Council. He previously served on the board of directors for US Airways,
Hilton Hotels Corporation, General Mills, United Negro College Fund, and
the National Cable Television Association, and on the board of trustees
for the American Film Institute.
Mr. Johnson is a graduate of the University of Illinois and holds a
master’s degree from the Woodrow Wilson
School of Public and International Affairs at Princeton University.
About KB Home
KB Home, one of the nation's largest homebuilders, has been building
quality homes for families for more than 50 years. Headquartered in Los
Angeles, the Company has operating divisions in nine states, building
communities from coast to coast. KB Home, ranked the #1 homebuilder in
FORTUNE magazine's 2008 list of America's Most Admired Companies®,
is a Fortune 500 company listed on the New York Stock Exchange under the
ticker symbol KBH. For more information about any of KB Home's new home
communities or complete mortgage services offered through Countrywide KB
Home Loans, call 888-KB-HOMES or visit kbhome.com.
KB Home
Kelly Masuda, Investor Relations
310-893-7434
kmasuda@kbhome.com
or
Lindsay
Stephenson, Media Contact
310-231-4142
lstephenson@kbhome.com
