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NVR Inc (NVR)

NVR on New York Consolidated

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22 Aug 2017
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Summary

Name Age Since Current Position

Dwight Schar

75 2009 Chairman of the Board

Paul Saville

61 2005 President, Chief Executive Officer

Daniel Malzahn

47 2016 Chief Financial Officer, Senior Vice President, Treasurer

Robert Henley

50 2012 President of NVR Mortgage Finance, Inc

Jeffrey Martchek

51 2016 President - Homebuilding Operations

Eugene Bredow

47 2016 Chief Accounting Officer, Vice President, Controller

David Preiser

59 2015 Lead Independent Director

William Moran

70 1993 Director

Charles Andrews

65 2008 Independent Director

Timothy Donahue

68 2006 Independent Director

Thomas Eckert

69 2011 Independent Director

Alfred Festa

57 2008 Independent Director

Ed Grier

62 2015 Independent Director

Manuel Johnson

68 2012 Independent Director

Melquiades Martinez

70 2012 Independent Director

William Rosier

68 2008 Independent Director

Susan Ross

55 2016 Independent Director

Paul Whetsell

66 2007 Independent Director

Curt McKay

IR Contact Officer

Biographies

Name Description

Dwight Schar

Mr. Dwight C. Schar is Chairman of the Board of the Company effective February 4, 2009, Mr. Schar relinquished his executive officer title with NVR, but remains the Chairman of the Board. Mr. Schar also served as the President and Chief Executive Officer of NVR from September 30, 1993 through June 30, 2005. Within the last five years, Mr. Schar served as a director of Six Flags, Inc. The Board believes that Mr. Schar is uniquely qualified to serve on the Board, based on his founding status with NVR, his over 40 years of homebuilding industry and real estate experience, his successful senior leadership experience from being a Chief Executive Officer of NVR and its predecessors, his experience on another public board, his brand marketing expertise and his expertise in managing a company within a cyclical industry.

Paul Saville

Mr. Paul C. Saville is the President, Chief Executive Officer of the Company. Mr. Saville was named President and Chief Executive Officer of NVR effective July 1, 2005. Mr. Saville has been employed by NVR since 1981.

Daniel Malzahn

Mr. Daniel D. Malzahn is the Chief Financial Officer, Senior Vice President, Treasurer of the Company. Mr. Malzahn was named Senior Vice President in February 2016, and continues to serve as Chief Financial Officer and Treasurer of NVR, roles he has occupied since February 20, 2013. From February 1, 2004 through February 20, 2013, Mr. Malzahn was Vice President of Planning and Investor Relations of NVR. Mr. Malzahn has been employed by NVR since 1994.

Robert Henley

Mr. Robert W. Henley is the President of NVR Mortgage Finance, Inc., subsidiary of the Company. Mr. Henley served as interim acting President of NVRM from June 1, 2012 until October 1, 2012. From July 1, 2005 through June 1, 2012, Mr. Henley served as Vice President and Controller of NVR. Mr. Henley has been employed by NVR since 1994.

Jeffrey Martchek

Mr. Jeffrey D. Martchek is the President - Homebuilding Operations of the Company. Mr. Martchek was named President of Homebuilding Operations of NVR effective January 1, 2016. From February 2011 through January 1, 2016, Mr. Martchek was Area President for the Maryland and Virginia homebuilding operations. Mr. Martchek was Area President of NVR’s Mid East homebuilding operations from October 2008 until January 2011. Mr. Martchek has been employed by NVR since 1988.

Eugene Bredow

Mr. Eugene J. Bredow is the Chief Accounting Officer, Vice President, Controller of the Company. He was named Chief Accounting Officer in February 2016, and continues to serve as Vice President and Controller of NVR, roles he has occupied since June 1, 2012. From January 2008 through June 1, 2012, Mr. Bredow was the Vice President of Internal Audit and Corporate Governance of NVR. Mr. Bredow has been employed by NVR since 2004.

David Preiser

Mr. David A. Preiser, J.D., is the Lead Independent Director of NVR Inc. He has been Co-President of the investment banking firm of Houlihan Lokey since 2013 and a member of its board of directors since 2001. Since January 1, 2005, Mr. Preiser has served as Chairman of Houlihan Lokey– Europe, pursuant to which he leads Houlihan Lokey’s European investment banking activities, including Houlihan Lokey’s European restructuring business. Mr. Preiser is also active in Houlihan Lokey’s investment banking and restructuring activities in the United States. Since 1990, Mr. Preiser had been active in coordinating Houlihan Lokey's real estate and financial restructuring activities as a senior managing director. Mr. Preiser is also a director of Ronald McDonald House New York. Within the last five years, Mr. Preiser was also a director of AIT Holding Company, LLC. The Board believes that Mr. Preiser is highly qualified to serve as one of our directors based on his expertise of managing workouts of distressed companies, his senior leadership experience of setting global strategic vision for an organization, his financial expertise from working in the investment banking field, his knowledge of capital markets, his business development and mergers and acquisitions experience and his experience sitting on other public boards.

William Moran

Mr. William A. Moran is an Independent Director of NVR Inc., since September 30, 1993. He has been the chairman of Elm Street Development, Inc. (“Elm Street”) since 1996. Mr. Moran is also a director and owner of Legend Management Group, which builds and owns apartment projects in the Washington, DC metro area. Until January 1, 2010, Mr. Moran was a director of Craftmark, Inc., a homebuilder in Virginia, Maryland, Pennsylvania and Delaware and Craftstar, Inc., which develops, invests in and periodically sells apartments, condominiums, single family homes and townhomes in Virginia and Maryland. The Board considered Mr. Moran’s lengthy homebuilding, real estate and land development experience, his senior leadership experience from being a Chief Executive Officer, his operational expertise and his expertise in managing a company within a cyclical industry in concluding that Mr. Moran is highly qualified to serve as one of our directors.

Charles Andrews

Mr. Charles Elliott Andrews is an Independent Director of NVR Inc., since May 6, 2008. He has been Chief Executive Officer and a member of the board of directors of MorganFranklin Consulting, LLC since May 2013. From June 2009 until February 2012, Mr. Andrews was the president of RSM McGladrey Business Services, Inc. Prior to that, Mr. Andrews served as the president of SLM Corporation (“Sallie Mae”). He joined Sallie Mae in 2003 as the executive vice president of accounting and risk management, and held the title of chief financial officer from 2006 to 2007. Prior to joining Sallie Mae, Mr. Andrews spent approximately 30 years at Arthur Andersen. He served as managing partner for Arthur Andersen’s mid-Atlantic region, and was promoted to global managing partner for audit and advisory services in 2002. Mr. Andrews serves on the boards of Marriott Vacations Worldwide Corporation, WashingtonFirst Bankshares, Inc. and Washington Mutual Investors Fund. Additionally, Mr. Andrews serves on the boards of Vemo Education, Inc., Junior Achievement of the National Capital Area and Global Good Fund. He is also a member of the advisory board of the R.B. Pamplin College of Business and Accounting Department at Virginia Tech. The Board believes that Mr. Andrews is highly qualified to serve on our Board based on the varied business experience that he obtained over his thirty year career in public accounting, his financial and accounting expertise, and his experience on other public boards.

Timothy Donahue

Mr. Timothy Michael Donahue is an Independent Director of NVR Inc., since January 1, 2006. Prior to his retirement, he was Executive Chairman of Sprint Nextel Corporation from August 2005 to December 2006. He previously served as president and chief executive officer of Nextel Communications, Inc. He began his career with Nextel in January 1996 as president and chief operating officer. Before joining Nextel, Mr. Donahue served as northeast regional president for AT&T Wireless Services operations from 1991 to 1996. Prior to that, he served as president for McCaw Cellular's paging division in 1986 and was named McCaw's president for the U.S. central region in 1989. Within the past five years, Mr. Donahue also served as a director of The ADT Corporation, Eastman Kodak, Covidien Limited and Tyco International Ltd. The Board considered Mr. Donahue’s senior leadership experience from being a Chief Executive Officer of a publicly-traded company, his operational expertise in providing global strategic vision to the overall operating entity, his experience serving on other public boards, and his brand marketing expertise in concluding that Mr. Donahue is highly qualified to serve as one of our directors.

Thomas Eckert

Mr. Thomas D. Eckert is an Independent Director of NVR, Inc., since December 1, 2011. He was Chairman of Capital Automotive Real Estate Services, Inc. (“Capital Automotive”) until October 2014. He was one of the founders of Capital Automotive in October 1997 and led its initial public offering in 1998. Capital Automotive went private in 2005. Mr. Eckert serves as a director of Dupont-Fabros Technologies, Inc., Chesapeake Lodging Trust and Gramercy Property Trust. Within the past five years, Mr. Eckert also served on the board of the Munder Funds (and its successor, Victory Funds). The Board believes that Mr. Eckert is highly qualified to serve as one of our directors because of his senior leadership experience from being a founder of Capital Automotive, his public board experience, and his operational expertise of being responsible for setting global strategic vision for an entire organization.

Alfred Festa

Mr. Alfred E. Festa is an Independent Director of NVR Inc., since December 1, 2008. He is Chairman and Chief Executive Officer of W. R. Grace & Co (“Grace”). He joined Grace as president and chief operating officer in November 2003, assumed the CEO role in June 2005, and became Chairman of the Board of Grace on January 1, 2008. From November 2002 until November 2003, Mr. Festa was a partner in Morgenthaler Private Equity Partners (“Morgenthaler”), a venture/buyout firm focused on mid-market industrial build-ups. Mr. Festa serves as a director of the American Chemistry Council and the National Association of Manufacturers. The Board believes that Mr. Festa is highly qualified to serve on our Board based on his experience of managing Grace during different business cycles, his senior leadership experience as a Chief Executive Officer of a publicly-traded company, his role setting global strategic vision for an entire organization, and his experience serving on another public board.

Ed Grier

Mr. Ed Grier is an Independent Director of the Company. He has been the Dean of the Virginia Commonwealth University (“VCU”) School of Business since March 2010. Prior to joining VCU, Mr. Grier spent approximately 29 years with the Walt Disney Company beginning in 1981. He served as the President of the Disneyland Resort from 2006 until 2010. Mr. Grier held various senior financial and operational roles during his career with Disney. Mr. Grier serves as a director of the Middleburg Trust Company and Capital Senior Living. Mr. Grier also serves on the boards of the following non-profit entities: Colonial Williamsburg, Brandman University, The Richmond Forum and ChildFund International. The Board believes that Mr. Grier is highly qualified to serve on our Board based on his operational expertise from operating a multi-billion dollar business for Disney, his brand marketing expertise obtained while managing one of the world’s most recognized brands and his financial expertise..

Manuel Johnson

Dr. Manuel H. Johnson is an Independent Director of NVR Inc. He has been co-chairman and senior partner in Johnson Smick International, Inc., an international financial policy-consulting firm, since 1990. From August 1, 1997 until December 2003, Dr. Johnson was the chairman of the board of trustees and president of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board. Also during 1997, Dr. Johnson was named a member of the Independence Standards Board (which was dissolved on July 31, 2001), formed jointly by the SEC and the American Institute of Certified Public Accountants. Dr. Johnson is a founder and co-chairman of the Group of Seven Council, an international commission supporting economic cooperation among the major industrial nations. Dr. Johnson is a director of Morgan Stanley Funds. Additionally, he is a director with the following non-profit and educational institutions: National Sporting Library and Museum, Upperville Colt and Horse Show, Troy University Foundation and Mercatus Center at George Mason University. The Board believes that Dr. Johnson is highly qualified to serve on our Board based on his financial and macroeconomic expertise, his knowledge of governmental and financial regulatory matters, his ability to access multiple high level information channels in the public and private sectors, his public board experience, and his lengthy experience as one of our directors.

Melquiades Martinez

Sen. Melquiades R. Martinez is an Independent Director of NVR Inc., since December 1, 2012. He has been Chairman of the South East and Latin America for JPMorgan Chase & Co. since August 2010. Prior to joining JPMorgan, Mr. Martinez was a partner in the law firm DLA Piper from September 2009 to July 2010. Mr. Martinez served as a United States Senator from Florida from January 2005 to September 2009. Prior to his election, Mr. Martinez served as the Secretary of the United States Department of Housing and Urban Development (“HUD”) from January 2001 to January 2004. Mr. Martinez also serves on the boards of Marriott Vacations Worldwide Corporation, where he is the lead director, and the Orlando Magic Youth Foundation. Within the past five years, Mr. Martinez was a director of Progress Energy, Inc. The Board believes that Mr. Martinez is highly qualified to serve as one of our directors based upon his government and housing regulatory matters experience in connection with his service as Secretary of HUD, his ability to access high level information channels in the public sector and his public board experience.

William Rosier

Mr. William Grady Rosier is an Independent Director of NVR Inc., since December 1, 2008. He has been the President and CEO of McLane Company, Inc. (“McLane”), a supply chain services company, since 1995. Prior to 1995, Mr. Rosier held various senior management roles since joining McLane in 1984. Mr. Rosier serves as a director of NuStar Energy L.P. The Board believes that Mr. Rosier is highly qualified to serve as one of our directors because of his senior leadership experience from being a Chief Executive Officer, his other public board experience, and his operational expertise of being responsible for setting global strategic vision for an entire organization.

Susan Ross

Ms. Susan Williamson Ross is an Independent Director of the Company. She has been the President of the privately-held majority investor in Clark Construction Group, Shirley Contracting and several other construction, development and real estate businesses since January 2016. She has been employed by Clark Construction Group since December 1986 in various positions, including Chief Administrative Officer since July 2004 and Executive Vice President since January 2008. The Board believes that Ms. Ross is highly qualified to serve as one of our directors because of her senior leadership experience and her construction, development and real estate experience.

Paul Whetsell

Mr. Paul W. Whetsell is an Independent Director of NVR Inc., since March 1, 2007. He has been the Vice Chairman of Loews Hotels Holding Corporation (“Loews”) since March 2015. Mr. Whetsell was President and CEO of Loews from January 2012 until March 2015. From 2006 until January 2012, Mr. Whetsell was the president and chief executive officer of Capstar Hotel Company. From August 1998 until May 2006, Mr. Whetsell served as the chairman and chief executive officer of Meristar Hospitality Corporation, and as the Chairman of Interstate Hotels and Resorts, Inc. (“Interstate”) from August 1998 until March 2009. From August 1998 until October 2003, he also served as the chief executive officer of Interstate and its predecessor. He also serves on the board of Boyd Gaming Corporation, Hilton Grand Vacations Inc. and the Cystic Fibrosis Foundation. In the past five years, Mr. Whetsell was also a director of Virgin Hotels North America, LLC. The Board considered Mr. Whetsell’s senior leadership experience from being a chief executive officer of a publicly-traded company, his public board service experience, his operational expertise, his real estate experience, and his brand marketing expertise in concluding that Mr. Whetsell is highly qualified to serve as one of our directors.

Curt McKay

Basic Compensation