Arlington-based D.R. Horton Inc.’s board of directors has appointed three new independent directors: Barbara R. Smith, M. Chad Crow, and Elaine D. Crowley.
“We expect to benefit greatly from the new perspectives, industry expertise and leadership skills they each bring from their respective track records of excellence and achievement,” Executive Chairman David V. Auld said in a statement. “Barbara, Chad and Elaine will complement our culture and are in support of the company’s goal to produce housing for more individuals and families across the United States. These appointments will enhance the composition of our board and support our ongoing commitment to succession planning and board refreshment.”
Smith was named a member of the Nominating and Governance Committee. Crow was named a member of the Compensation Committee, and Crowley was named a member of the Audit Committee. With these new director appointments, the board expands to 10 directors, eight of whom are independent.
Leaders in steel and metals, homebuilding, and finance
The company said Smith brings extensive experience in product, technology, and process innovation and has been widely recognized for her leadership in the steel and metals industry. She has served as chairman of the board of Irving-based Commercial Metals Co., a leading international manufacturer of construction products, since 2018 and retired from that role last month. Smith also served as CEO of Commercial Metals Co. from 2017 to 2023 after previously serving in the roles of CFO and COO of the company. Before CMC, she served as CFO at Gerdau Ameristeel Corp. and at FARO Technologies, Inc., following a 24-year career of various business roles with Alcoa Inc.
Smith currently serves on the board of directors of Dallas-based Comerica Inc.
Crow has more than two decades of homebuilding industry experience and most recently served as the president and CEO of Builders FirstSource, the nation’s largest supplier of building products, components and services, from 2017 until his retirement in 2021. During that time, he also was a director on the Builders FirstSource Board. From 1999 to 2017, Crow served in positions of increasing responsibility including as president and COO, senior vice president and CFO and in other leadership roles at Builders FirstSource.
Before joining Builders FirstSource, Crow held various roles at Pier 1 Imports and PwC. He currently serves on the Board of Directors of LOAR Group, an aerospace systems and parts manufacturer.
Crowley is an accomplished financial executive with deep expertise in accounting, finance, operational efficiency and strategic leadership. She recently served on the board of Tandy Leather Factory Inc. from 2021 to June 2024. From 2014 to 2020, she served on the board of Stage Stores Inc. From 2010 until 2012, Crowley was the executive vice president and CFO of Mattress Giant Corp., and she previously served as CFO at Irving-based Michaels Stores Inc. and The Bombay Co. Inc. She began her career in public accounting with roles at Deloitte and PwC.
‘America’s Builder’
D.R. Horton, Inc., known as America’s Builder, has been the largest homebuilder by volume in the United States since 2002 and has closed more than 1,100,000 homes in its over 45-year history. The company has operations in 121 markets in 33 states across the nation and is engaged in the construction and sale of high-quality homes through its diverse product portfolio with sales prices generally ranging from $200,000 to over $1,000,000.
The company also constructs and sells both single-family and multifamily rental properties.
During the 12-month period ended June 30, D.R. Horton closed 88,971 homes in its homebuilding operations, in addition to 5,284 single-family rental homes and 2,916 multi-family rental units in its rental operations. The company also provides mortgage financing, title services, and insurance agency services for its homebuyers and is the majority-owner of Forestar Group Inc., a publicly traded national residential lot development company.
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