"We thank David for his contribution to Homex," said Eustaquio de Nicolas, chairman of the Mexican homebuilder. "He was instrumental in engineering a strong strategic plan and enhancing our management team. We wish him well as he pursues his next ventures."
He'll be replaced by former chief Gerardo de Nicolas Gutierrez, who was CEO from May 1997 until this past Sept. 30.
Sanchez-Tembleque said: "I'm proud to have been a part of Homex. During the past months, we strengthened the management team and began exciting new initiatives. I am confident that these steps will propel the company into a strong growth period."