KB Home Names New Legal Chief

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KB Home said Wednesday that it has hired Wendy Shiba as the homebuilders general counsel after the company’s previous legal chief quit amid a stock-options backdating investigation.


Shiba previously served as chief legal officer of Avon Lake, Ohio-based chemicals and rubber compound maker PolyOne Corp.


In November, the Los Angeles-based company’s then Chief Legal Officer Richard Hirst resigned amid an internal probe into the company’s stock-options backdating practices. Hirst quit the same day KB’s former Chief Executive Bruce Karatz also resigned.


Shares in KB were down 38 cents, or 1.4 percent, to $26.17 in afternoon trading Wednesday on the New York Stock Exchange. Shares have lost more than 53 percent so far this year.

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