Homebuilder M.D.C. Holdings Names Finance Veteran to CFO Post

Homebuilding company M.D.C. Holdings recently announced it has appointed a new chief financial officer with experience in a similar role within the industry, according to a release.

John M. Stephens, who most recently served as senior vice president and CFO for homebuilder Standard Pacific Corporation, will reportedly take over the new role on February 13. During his tenure with Standard Pacific, one of the largest publicly traded homebuilders in the nation, Stephens headed up a finance team of more than 50 individuals, the release noted.

Larry A. Mizel, chairman and chief executive officer of M.D.C., explained that it was this experience that led to Stephens' selection as CFO.

"He offers a deep understanding of the homebuilding industry, and he has a proven track-record of success in driving financial growth and shareholder value," Mizel said. "We are confident that John will enhance our senior management team and help us to become an even stronger, more successful enterprise as we work towards our goal of returning to profitability in 2012."

According to The Associated Press, Stephens will be replacing Vilia Valentine, who resigned last month. For the time being, Valentine will reportedly continue to serve as a consultant, the news source said.