KB Home (KBH) announced the appointment of Tom Silk as the company’s Senior Vice President of marketing and communications. He will be responsible for KB Home’s marketing, advertising, communications and social media outreach across its U.S. homebuilding operations.
Silk had previously worked as the Vice President of marketing for hydration brands at PepsiCo, Inc. (PEP) Americas. He also served as a brand marketer at Clorox Corporation (CLX) for some time in the past.
With the appointment, KB Home expects to utilize Silk’s experience, knowledge and expertise towards the betterment of the company. During the past few quarters, the homebuilder was badly affected as a result of a depressed economy and a weak housing market. As a result, with the changes in administration, KB Home is very interested to connect with consumers on a new level, in turn improving the market share and strengthening the brand.
In order to attract a wide range of homebuyers, KB home has undertaken a number of attempts, the most crucial being the partnership with SunPower Corp. (SPWRA). SunPower will supply KB Home the highest available solar panels and systems employing the most efficient solar technology available in the market.
The new initiative taken by KB Home is intended to cut down the monthly energy bills of the homeowners, thereby reducing the overall cost of homeownership. Alongside, the program will also benefit the environment as solar panel system is considered a reliable alternative to electricity sourced from non-renewable fossil fuels.
Among the selected 10 communities, KB Home has already offered the new program in three of its communities in the region: Newbury at the Enclave community in Eastvale, Manzanita at Paseo del Sol community in Temecula and Monterey at Otay Ranch community in Chula Vista. Five more communities, featuring the solar power systems in each homes, will be inaugurated in the second quarter of fiscal 2011 while the remaining two are expected to open in the fall of 2011.
KB Home ended the first quarter of fiscal 2011 with revenues of $196.9 million, down 25% from the year-ago level. The company’s adjusted net loss was $38 million or 49 cents per share during the quarter compared with $54.7 million or 71 cents per share in the previous year.
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