Standard Pacific Homes – Company Profile

Standard Pacific Homes – Company Profile

Overview

Standard Pacific Corp. operates as a builder of single-family attached and detached homes in the United States. The company’s geographically diversified business spans housing markets, including major metropolitan markets in California, Florida, the Carolinas, Texas, Arizona, and Colorado. Homebuilding Operations The company builds homes in 24 markets through a total of 14 operating divisions. Its homes sizes typically range from approximately 1,500 to 3,500 square feet, although the company has built homes from 1,100 to approximately 6,000 square feet. As of December 31, 2012, the company owned or controlled 30,767 homesites (including joint ventures) and had 156 active selling communities. The remainders of its deliveries are single family attached homes, generally townhomes and condominiums configured with eight or fewer units per building. Financial Services Customer Financing: The company provides mortgage loans to many of its homebuyers through its mortgage financing subsidiary, Standard Pacific Mortgage. The company sells substantially all of the loans the company originates in the secondary mortgage market, with servicing rights released on a non-recourse basis. These sales are subject to its obligation to repay gain on sale if the loan is prepaid by the borrower within a certain time period following such sale, or to repurchase the loan if, among other things, the loan purchaser’s underwriting guidelines are not met or there is fraud in connection with the loan. Title Services In Texas, the company acts as a title insurance agent performing title examination services for its Texas homebuyers through its title service subsidiary, SPH Title, Inc. Strategy The company’s strategy includes the following elements: acquire land in desirable locations at acceptable prices; leverage its land acquisition and master plan development expertise to garner an advantage in the highly competitive market for highly sought after locations; construct well built, innovatively designed, and energy efficient homes that cater to the move-up homebuyer; provide an industry customer experience; optimize the size of its business in each of its markets to appropriately leverage operating efficiencies; maintain a cost structure that positions the company for near and long-term profitability; seek opportunities to enhance revenue while maintaining an appropriate sales pace; and concentrate operations and invested capital in anticipated growth markets. History Standard Pacific Corp. was founded in 1986.

People

SUMMARY

Name	Age	Since	Current Position
Ronald Foell	84	2012	Chairman of the Board and Lead Independent Director
Scott Stowell	55	2012	President, Chief Executive Officer, Director
Jeffrey McCall	41	2011	Chief Financial Officer, Executive Vice President
Wendy Marlett	49	2010	Chief Marketing Officer, Executive Vice President
John Babel	41	2012	Executive Vice President, General Counsel, Secretary
Bruce Choate	65	2007	Independent Director
Douglas Jacobs	66	1998	Independent Director
David Matlin	51	2008	Independent Director
John Peshkin	52	2012	Independent Director
Peter Schoels	39	2009	Independent Director

BIOGRAPHIES

Name	Description
Ronald Foell	Mr. Ronald R. Foell is Chairman of the Board and Lead Independent Director of Standard Pacific Corp. He serves as the Chairman of the Board since December 2008. Mr. Foell served as President of the Company from 1969 until October 1996. Since October 1996 Mr. Foell has been a private investor.
Scott Stowell	Mr. Scott D. Stowell is President, Chief Executive Officer, Director of Standard Pacific Corp. He serves as the Director and Chief Executive Officer since January 2012 and President since March 2011. Mr. Stowell served as Chief Operating Officer from May 2007 to March 2011, President of Southern California Region from September 2002 to May 2007 and President of Orange County division from April 1996 to September 2002. Mr. Stowell joined the Company in 1986 as a project manager.
Jeffrey McCall	Mr. Jeffrey Joseph McCall is Chief Financial Officer, Executive Vice President of Standard Pacific Corp. Prior to joining the Company, Mr. McCall was Chief Financial Officer – Americas at Regus plc, the world’s provider of serviced offices, from August 2004 to May 2011. From December 2003 to August 2004 Mr. McCall served as Chief Financial Officer and Executive Vice President of HQ Global Workplaces, Inc., which was acquired by Regus plc in August 2004. From 1998 to 2003, Mr. McCall was Principal at Casas, Benjamin & White LLC, a boutique advisory services firm specializing in middle market mergers, acquisitions, divestitures, restructuring, and private equity investments.
Wendy Marlett	Ms. Wendy L. Marlett is Chief Marketing Officer, Executive Vice President of Standard Pacific Corp. Ms. Marlett leads all of the Company’s sales, marketing, communications and architecture functions across operations. Prior to joining the Company, Ms. Marlett was Senior Vice President of sales, marketing and communications at KB Home, where she held progressive roles since 1995 and was a recognized innovator in marketing and brand management.
John Babel	Mr. John P. Babel is an Executive Vice President, General Counsel, Secretary of Standard Pacific Corp. Prior to that, Mr. Babel was Senior Vice President, General Counsel and Secretary from February 2009 until February 2012. Mr. Babel served as Senior Vice President and Associate General Counsel from October 2008 until February 2009 and as Vice President and Associate General Counsel from February 2005 to October 2008. Mr. Babel joined the Company as Associate General Counsel in October 2002. Prior to joining the Company, Mr. Babel was a corporate lawyer with the international law firm of Gibson, Dunn & Crutcher LLP.
Bruce Choate	Mr. Bruce A. Choate is Independent Director of Standard Pacific Corp. Since December 2002, Mr. Choate has served as Chief Executive Officer, President and Director of Watson Land Company, a privately-held real estate investment trust (“REIT”) located in Carson, California. Prior to December 2002, Mr. Choate served since 1991 as Watson Land Company’s Chief Financial Officer. Mr. Choate also serves on the Board of Directors of AvalonBay Communities, Inc., a publicly traded apartment REIT, and is a member of AvalonBay’s investment and finance committee and its nominating and corporate governance committee.
Douglas Jacobs	Mr. Douglas C. Jacobs is Independent Director of Standard Pacific Corp. He serves as the Executive Vice President — Finance and Chief Financial Officer of Brooklyn NY Holdings LLC, a privately held investment advisory company, since January 1, 2006. Prior to that, Executive Vice President — Finance, Chief Financial Officer and Treasurer of the Cleveland Browns from March 2001 to December 2005. Prior to that Mr. Jacobs, among other things, served as a Partner of the accounting firm of Arthur Andersen LLP. Mr. Jacobs is also a Director of Stoneridge, Inc., a designer and manufacturer of electronic systems for motor vehicles, and a member of its compensation committee and Chairman of its audit committee.
David Matlin	Mr. David J. Matlin is Independent Director of Standard Pacific Corp. He serves as the Chief Executive Officer of MatlinPatterson Global Advisers LLC, a private equity firm, since 2002. Prior to July 2002, Mr. Matlin was a Managing Director at Credit Suisse First Boston, and head of their Distressed Securities Group since its formation in 1994. Prior to joining CSFB, Mr. Matlin was Managing Director of distressed securities and a founding partner of Merrion Group, L.P., a successor to Scully Brothers & Foss L.P. (1988-1994). Mr. Matlin also serves as an Advisory Board member of Wharton Private Equity Partners (WPEP).
John Peshkin	Mr. John R. Peshkin is Independent Director of Standard Pacific Corp. He is the Managing principal and founder of Vanguard Land, LLC, a private real estate investment group focused on the acquisition and development of high-quality residential properties since September 2008. Prior to founding Vanguard Land, Mr. Peshkin was Chief Executive Officer of Starwood Land Ventures, LLC from May 2007 to August 2008. Mr. Peshkin began his career at Taylor Woodrow, with progressive roles over nearly 25 years, including six years as Chief Executive Officer of North American operations, from 2000 to 2006. Mr. Peshkin was also a member of the Board of Directors of WCI Communities, Inc. from September 2009 to February 2012.
Peter Schoels	Mr. Peter Schoels is Independent Director of Standard Pacific Corp. He serves as th eManaging Partner of MatlinPatterson Global Advisers LLC, a private equity firm, since July 2002. Prior to July 2002, Mr. Schoels was a member of Credit Suisse’s Distressed Group which he joined in 2001. He has made investments in North America, Latin America, Europe and the CIS. Before joining Credit Suisse, Mr. Schoels was Director of Finance and Strategy for Tradeledger and KnowledgePlatform, both subsidiaries of Itim Group Plc (2000-2001). Previously, he was Manager of Mergers and Acquisitions for Ispat International NV (now Mittal Steel), specializing in buying distressed steel assets in emerging markets (1998-2000).

Contact Info

15360 Barranca Parkway

Irvine, CA 92618-2215

United States

Phone: 949-789-1600

Fax: 949-789-1609