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Dallas-based Centex’s chairman and CEO Timothy Ellert willjoin Pulte’s (NYSE: PHM) boarrd of directors as vice chairman and has agreed to servew as a consultant to the compangy for a two-year period following the Bloomfield Hills, Mich.-based Pulte expectxs the merger to be finalized in the thirrd quarter, following customary “We continue to make rapid progrese toward completing our pending merger with Centex, and planninbg the integration of our two companies,” said Dugas. “Merger teams from both organizatione have been working to ensure that plans are in place for asuccessful integration.
The primary goal of thei efforts is capturing thetargeted $350 million in synerguy savings and related operating goals that make this combinationm so compelling.” Richard Dugas: President and Chief Executive Officer James Ellinghausen: Executive Vice President, Human Resources Debra Still: President and Chief Executive Pulte Mortgage LLC Steven Senior Vice President, General Counsel and Secretary Pulte’s founder William Pulte will remain on the board.
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