United Homes Group Announces Leadership Changes and Review of Strategic Alternatives

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COLUMBIA, S.C., May 19, 2025--(BUSINESS WIRE)--United Homes Group, Inc. (the "Company") (NASDAQ: UHG) today announced the appointment of John G. (Jack) Micenko, Jr., as Chief Executive Officer of the Company and Jeremy Pyle as co-Chief Operating Officer of the Company, and simultaneously therewith announced that its Board of Directors has appointed a special committee comprised solely of independent directors and initiated a review of strategic alternatives in order to explore ways to maximize shareholder value. The review will include a range of potential strategic alternatives, including a sale of the Company, a sale of assets, and a refinancing of existing indebtedness, among others. Mr. Micenko succeeds James M. (Jamie) Pirrello, who previously served as the Company’s Interim Chief Executive Officer, and will continue to serve as a member of the Company’s board of directors.

Robert Dozier, Vice Chairman of the Company’s board of directors, stated, "Jack was an integral member of the team that brought the Company to the public markets, and became our President shortly after the success of that transaction. His leadership of the Company during these early years of being a public company has been invaluable, and with his extensive background in residential housing finance, capital markets, and mergers and acquisitions, Jack is well-qualified to lead our company during this time as we review available alternatives to unlock additional value for our shareholders. The board would like to thank Jamie Pirrello for his service as our Interim Chief Executive Officer, and we look forward to continuing to work with him on the board."

Michael Nieri, the Company’s founder and Executive Chairman, stated, "We appreciate Jamie’s stewardship as the Company has navigated headwinds facing the homebuilding industry in recent quarters. Drawing on his operational background, he identified several initiatives aimed at bettering our product, increasing our margins, and allowing us to be a more effective production homebuilder. We are already seeing the results of these initiatives, and we thank Jamie for his dedication and focus throughout a challenging macroeconomic environment." Mr. Nieri continued, "We are committed to maximizing value for all of our shareholders. We believe that now is the appropriate time to evaluate a range of potential strategic alternatives, and we are confident in Jack’s ability to lead UHG as we explore these alternatives."

Mr. Micenko has more than 20 years of experience in equity and capital markets focusing on the residential real estate and mortgage finance sectors. Prior to joining the Company as President, Mr. Micenko was a Managing Director at BTIG LLC ("BTIG"), where he led the firm’s Housing Ecosystem investment banking practice, identifying opportunities for corporate clients across all aspects of the residential housing industry. Before his tenure at BTIG, Mr. Micenko held similar roles at Susquehanna International Group, LLP, Lehman Brothers Holdings Inc., and Friedman Billings Ramsey Group ("FBR").