Significant Changes Announced for M/I Homes Board: Retirement of Longstanding Member

Major Changes to M/I Homes Board of Directors

M/I Homes, Inc., one of the leading homebuilders in the United States, has made a notable announcement regarding its Board of Directors. Friedrich K.M. Böhm, an independent board member since 1994, has informed the company of his decision to retire. His retirement will take effect at the conclusion of his term during the Annual Meeting of Shareholders scheduled for 2025. This decision marks the end of an era, as Mr. Böhm has been an integral part of the board for over three decades.

Mr. Böhm's tenure on the M/I Homes Board is characterized by his extensive experience and dedication to the company. He has held several key positions, including Lead Director, as well as chairing both the Audit and Compensation Committees. His contributions have significantly influenced the growth strategy and operational efficiency of M/I Homes.

Robert H. Schottenstein, Chairman and CEO of M/I Homes, expressed his gratitude for Mr. Böhm's remarkable service. He acknowledged Mr. Böhm's exceptional insight and strategic thinking, which have greatly contributed to the firm’s accomplishments. "Friedl's leadership and expertise have been invaluable to us, and we are profoundly thankful for his lengthy and successful tenure on the board," remarked Schottenstein.

As M/I Homes prepares for this transition, the company is obligated to identify a nominee to succeed Mr. Böhm on the board. This nominee will be revealed in the Proxy Statement intended for the 2025 Annual Meeting of Shareholders. The process to select Mr. Böhm's replacement is crucial, as the new board member will be expected to step into significant leadership roles and make strategic decisions that shape the future direction of the company.

M/I Homes operates homebuilding projects in several regions, including major markets in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The ability to attract innovative and competent leaders is essential for maintaining its competitive edge in these diverse markets.

Moreover, as M/I Homes navigates forward, it plans to uphold its commitment to delivering quality homes with underlying principles that encompass sustainability, customer satisfaction, and community engagement. Leadership evolution is a critical aspect of maintaining these commitments, particularly in a rapidly changing housing market.

In a broader context, the retirement of a long-standing board member like Mr. Böhm raises essential questions about continuity and change within organizations. As industries evolve and face new challenges, the capacity for leadership succession planning becomes vital. Ensuring a stable transition while sustaining the values and objectives of the organization can dictate future successes.

M/I Homes, with its firm foundation and evolving structure, stands at a crossroads. The forthcoming board leadership adjustments may create new opportunities for the company’s strategy and operations, particularly in how it responds to market demands and consumer preferences. Stakeholders and shareholders alike will be watching closely as the company ushers in this new chapter in its governance.

The announcement is also accompanied by forward-looking statements, reminding stakeholders of the various risks and uncertainties inherent in the real estate and construction sectors. Factors like economic conditions, resource availability, and market competition could influence M/I Homes’ performance moving forward. As highlighted in the risk disclosures associated with corporate governance, these considerations are vital in understanding potential future outcomes.

In conclusion, as M/I Homes embarks on this new phase with its Board of Directors, the impact of Friedrich K.M. Böhm's departure will be felt both internally and externally. The selection of his successor is already anticipated with great interest, and the company's performance will be closely scrutinized as M/I Homes continues its mission of providing quality housing solutions for families across the United States.