KB Home Parts Ways With CFO Silcock - TheStreet

KB Home Parts Ways With CFO Silcock

The homebuilder said Raymond Silcock, executive vice president and chief financial officer, left the company on Dec. 14.
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LOS ANGELESE (

TheStreet

) --

KB Home

(KBH) - Get Report

, the homebuilder, said Raymond Silcock, executive vice president and chief financial officer, left the company on Dec. 14.

He was named to the post in September. KB Home and Silcock "mutually agreed" that Silcock "would conclude his employment", the company said in a regulatory filing late Thursday with the

Securities and Exchange Commission

.

William Hollinger, KB Home's senior vice president and chief accounting officer since 2007, will serve as principal financial officer until a new chief financial officer is found.

Silcock is to receive a lump-sum payment of $200,000, which represents a bonus he was guaranteed when hired, and an additional six months of salary, which amounts to $300,000, KB Home said.

KB Home is being investigated by the SEC for possible accounting and disclosure issues. The exact reason remains unclear, the

Wall Street Journal

reports.

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-- Reported by Joseph Woelfel in New York.

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