Ryland Appoints New CEO

R. Chad Dreier, chief executive of The Ryland Group Inc., Calabasas, Calif., will retire from that position on May 29, 2009. He will continue in his role as chairman at the homebuilder and mortgage finance company. Larry Nicholson will be promoted to the position of chief executive and will retain the title of president. Mr. Dreier joined Ryland in November 1993 as president and chief executive, becoming chairman in December 1994. With more than 25 years of experience in the homebuilding industry, Mr. Nicholson joined Ryland in 1996 as a vice president of operations and subsequently ran the Greenville, S.C. and Orlando divisions before his promotion to Southeast region president in 2004. He was promoted to chief operating officer in June 2007 and president in September 2008.