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Forestar Group Inc. ("Forestar") (NYSE:FOR), a leading national residential lot developer, today announced the retirement of Daniel (Dan) C. Bartok and the appointment of Anthony (Andy) W. Oxley as President and Chief Executive Officer (CEO), effective January 1, 2024. Oxley will join the company from D.R. Horton, Inc., where he currently serves as Senior Vice President – Business Development. Bartok will support Forestar in a consulting role for an extended period to ensure a seamless transition.
Donald J. Tomnitz, Chairman of the Board, said, "I'd like to express our gratitude to Dan for all of his significant contributions to Forestar. During Dan's tenure as CEO, Forestar has achieved tremendous growth and become a leading residential lot developer in the United States. Dan has been instrumental in leading Forestar to build and expand our platform and operations, which has positioned us for continued growth and success. We thank him for his leadership and wish him all the best in his well-deserved retirement.
"As we look forward, Andy is an experienced, effective leader and has been an integral member of D.R. Horton's management team for over two decades, with extensive land acquisition and development experience that positions him extremely well for this role. I am confident that Andy is well prepared to lead Forestar in continuing to expand our platform and operations to further scale our position as a leading lot developer. On behalf of the Forestar Board, we look forward to working alongside Andy to help guide the strategic direction of our Company."
Bartok said, "It has been an honor to serve as CEO of Forestar for the past six years. I am proud of our work to become one of the largest residential community developers in the country, with a strong balance sheet and blueprint for long-term growth. I want to express my thanks to the entire Forestar team for their incredible efforts, and I look forward to seeing Forestar's continued growth and success in the future."
Andy Oxley has held various roles over his 25-year tenure at D.R. Horton and has been active in all aspects of land acquisition, land development, homebuilding and day-to-day division operations. He has served as Division President in several large markets including Atlanta and Nashville, and his corporate responsibilities over the past decade include serving as Regional Operations Manager, National Director of REO Acquisitions and Regional Acquisitions Manager. In Oxley's current role as D.R. Horton's Senior Vice President – Business Development, he oversees all M&A activity and new market opportunities for start-up divisions, in addition to being integrally involved in D.R. Horton's relationships in strategic land banking and land development. Oxley is also responsible for D.R. Horton's property, technology and innovation investments.
Oxley holds a Bachelor's degree from the University of Northern Iowa and a Juris Doctorate from Emory University. Prior to joining D.R. Horton in 1998, he was a partner in the law firm of Hyatt & Stubblefield, P.C. in Atlanta.
Oxley said, "I am excited to join Forestar and have the utmost respect and appreciation for what Dan and the Forestar team have accomplished. This business plays an important role in land development for the homebuilding industry, and I believe there is a bright future ahead as we continue to work closely with D.R. Horton to expand and strengthen the Forestar platform. I want to thank Don and the rest of the Forestar Board for their vote of confidence, and I look forward to working in partnership with the team over the coming months to execute on our strategy for long-term growth."
Posted In: FOR
