– USA, AZ – Cavco Industries, Inc. (NASDAQ: CVCO) today announced that its Board of Directors appointed Steven W. Moster as an independent director effective January 27, 2020.
This appointment brings the current membership of the Cavco Board to seven directors, six of whom are independent. Steve will also serve as the chair of the Company’s Compensation Committee and will replace Rich Kerley who has stepped down from his seat on the Compensation Committee.
“Steve is a superb addition to our Board,” said Steve Bunger, Non-Executive Chairman. “Steve is a seasoned CEO, leading a well-established public company. In his role with Viad, Steve’s strategic focus, operational execution and growth plan implementation have resulted in significant gains for Viad shareholders. We are very fortunate to have found a director such as Steve to add to our Board, and we are confident that he will be a valuable contributor to both Cavco and our Board.”
“I’m very excited that Cavco found a new director of the caliber of Steve to add as our seventh director,” added Bill Boor, President and CEO and a Board member. “His experience and perspective will complement the strong Board we’ve been able to develop at Cavco. I also know that Steve will be a valuable resource to me, given the similar roles that we hold at our respective companies and I’m really looking forward to working with him to continue Cavco’s success.”
About Steve Moster
Steve Moster is the President and CEO and a member of the Board of Directors, of Viad Corp (NYSE: VVI), a position he has held since 2014. Viad Corp is a member of the S&P SmallCap 600 and is headquartered in Phoenix, Arizona.
“I am excited for the opportunity to join Cavco’s Board and work with the Board and management team to increase profitability and shareholder value,” said Steve Moster. He continued, “Affordable housing serves an important societal need and I believe Cavco is well-positioned for growth and strong financial returns in this sector. I look forward to partnering with Bill and the Cavco leadership team to help achieve these goals.”
Mr. Moster received a Bachelor of Engineering from Vanderbilt University in 1993 and a Masters of Business Administration from the Tuck School of Business at Dartmouth College in 2000. Steve lives in the Phoenix area with his wife and daughter.
About Cavco Industries, Inc.
Cavco Industries, Inc., headquartered in Phoenix, Arizona, designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. The Company is one of the largest producers of manufactured homes in the United States, based on reported wholesale shipments, marketed under a variety of brand names including Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, Lexington, and Destiny. The Company is also one of the leading producers of park model RVs, vacation cabins and systems-built commercial structures, as well as modular homes. Cavco’s mortgage subsidiary, CountryPlace Mortgage, is an approved Fannie Mae and Freddie Mac seller/servicer, a Ginnie Mae mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Our insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes.
For more information: https://www.cavco.com
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