SelectBuild president and CEO Michael D. Mahre resigned effective April 30, SelectBuild's parent company BMHC revealed today (May 2) in an SEC filing. The move follow's Stanley Wilson's Feb. 19 ascension to president and chief operating officer of BMHC, a job that gave him operating responsibility for both.
"The separation agreement gives Mahre his salary and insurance benefits through Jan. 18. Mahre also signed a non-compete agreement that lasts through Jan. 18, 2009.
Wilson, 63, was elected president and CEO of BMC West in 2004 and was appointed a senior vice president of BMHC in 2003. He has been with BMHC since its formation in 1987.
SelectBuild provides turnkey framing and home construction services for production builders. BMC West sells building materials and does installed sales, particularly of insulation.
San Francisco-based BMHC has been hard-hit by the housing downturn. Its sales sank nearly 29% last year to $2.29 billion.