WALNUT CREEK, Calif.,
Nov. 18, 2010 /PRNewswire-FirstCall/
-- The PMI Group, Inc. (NYSE: PMI; or the "Company"), announced
today that Timothy R. Eller and
Charles R. Rinehart have joined the
Company's Board of Directors.
"We are very pleased to announce the addition of these two
highly qualified Board members," said Chairman and Chief Executive
Officer L. Stephen Smith. "Tim
and Charlie both possess diverse and extensive backgrounds in the
housing market and will bring a fresh perspective on the issues and
challenges facing our industry."
Timothy R. Eller
Mr. Eller is a principal of Cordalla Capital, LLC, which directs
investments in real estate and related businesses. In
addition, Mr. Eller has served as Vice Chairman of the Board of
Directors of PulteGroup Inc. since August
2009. Prior to joining PulteGroup, Mr. Eller served as
Chairman and Chief Executive Officer of Centex Corporation from
April 2004 until August 2009, when PulteGroup acquired Centex
Corporation. Mr. Eller joined Centex Homes in 1973. In
August 1998, Mr. Eller was named
Executive Vice President of Centex Corporation, serving until
April 2002 when he became President
and Chief Operating Officer. He assumed the additional roles
of Chairman and Chief Executive Officer in April 2004. Mr. Eller serves on the Policy
Advisory Board of Harvard University's
Joint Center for Housing Studies, and is a trustee of the National
Housing Endowment. Mr. Eller is a graduate of the
University of Nebraska.
Charles R. "Charlie" Rinehart
Mr. Rinehart is the former Chairman and Chief Executive Officer
of H.F. Ahmanson, a publicly traded
Fortune 5000 company and the parent company of Home Savings of
America that was sold to Washington Mutual Bank in 1998. Mr.
Rinehart joined H.F. Ahmanson in
1989 as President and Chief Operating Officer and was appointed
Chief Executive Officer in 1993. Prior to joining
H.F. Ahmanson, Mr. Rinehart was the
Chief Executive Officer of Avco Financial Services and before that
served in various positions of increasing responsibility at
Fireman's Fund Insurance Company. In addition to his
significant executive management experience, Mr. Rinehart brings
with him extensive experience as a director. He is currently
Chairman of the Board of Verifone Systems, Inc. and a director of
MBIA Inc. Mr. Rinehart is a fellow of the Casualty Actuarial
Society. He is also a past Chairman of the Thrift Industry
Advisory Council to the Federal Reserve. Mr. Rinehart is a
graduate of the University of San
Francisco and served in the US Army as an officer in the
82nd Airborne Division.
About The PMI Group, Inc.
The PMI Group, Inc. (NYSE: PMI), headquartered in Walnut Creek, CA, provides credit enhancement
solutions that expand homeownership while supporting our customers
and the communities they serve. Through its wholly and partially
owned subsidiaries, PMI offers residential mortgage insurance and
credit enhancement products. For more information:
www.pmigroup.com.
SOURCE The PMI Group, Inc.