Cavco Industries, Inc. (NASDAQ:CVCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 31, 2018, Cavco Industries, Inc. (the "Company") announced that, effective August 31, 2018, Daniel Urness, Executive Vice President, Chief Financial Officer, and Treasurer of the Company resigned as an officer of the Company to work more closely with the Company's home building production facilities to expand his operational experience.
The Company also announced that Joshua J. Barsetti has been named Chief Accounting Officer of the Company responsible for all accounting and financial reporting. Mr. Barsetti will report to the Company's Chief Executive Officer and President, Joseph Stegmayer. Other functions previously reporting to Mr. Urness will report to Mr. Stegmayer and other members of the Company's senior management. The appointment of Mr. Barsetti was effective August 31, 2018.
Mr. Barsetti, 38, served as the Company's Senior Director of Financial Administration from August 2017 and as the Company's Director of Internal Audit from October 2014 to August 2017. Prior to joining Cavco, he served as the Director of Financial Reporting at Universal Technical Institute ("UTI") from November 2013 to October 2014 and previously served as UTI's Audit Manager and Senior Audit Manager from May 2011 to November 2013. He held various internal audit positions at Viad Corp. from September 2005 to May 2011, most recently as an Internal Audit Manager. Mr. Barsetti holds a Bachelor's degree in Accounting from Northern Arizona University and is a registered Certified Public Accountant.
About Cavco Industries, Inc. (NASDAQ:CVCO)
Cavco Industries, Inc. designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers. It markets its products under the brands, including Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes and Chariot Eagle. It is also a builder of park model recreational vehicle (RVs), vacation cabins and systems-built commercial structures, as well as modular homes built primarily under the Nationwide Homes brand. It also produces a range of Cape Cod-style homes and multi-family units, and builds commercial modular structures, including apartment buildings, schools and housing for the United States military troops.