AHN

Hovnanian, Builder Of Nation’s Homes, Dies At 86

September 25, 2009 3:14 p.m. EST

Melvin Baker – AHN Reporter

Red Bank, NJ (AHN) – Kevork S. Hovnanian, founder of the nation’s
largest homebuilders, has died at age 86.

His death on Thursday was reported on the website of Hovnanian
Enterprises. He and his three brothers came up with $1,000 each to
start the company in Toms River, N.J., in 1959.

Hovnanian was president of the company until 1988 and chief executive
officer until 1997, when his son Ara succeeded him as president and
CEO. He had remained as chairman of the board until his death.

Homes built by the company are marketed under a variety of names,
including Matzel & Mumford, Town & Country Homes, First Home Builders
of Florida and CraftBuilt Homes. He also developed active adult
communities under the name Four Seasons.

There was no immediate word who would succeed him.

From: Emil Lazarian | Ararat NewsPress