PulteGroup Board Completes Investigation into Code of Ethical Business Conduct Violations by Former Employee

Atlanta, January 20, 2023–(BUSINESS WIRE)–The board of directors of PulteGroup (NYSE: PHM) today announced that a former employee violated our Code of Ethical Business Conduct in connection with the inappropriate use of social media. announced the results of the investigation into the suspicion of As previously announced, the company promptly terminated the former employee after confirming the violation of the Code.

As part of the Board’s fiduciary duty to fully evaluate this case, the Board has commissioned King & Spalding LLP to conduct a thorough and independent investigation of the allegations. The King & Spalding effort was led by John Horn, a former federal attorney for the Northern District of Georgia, who has more than 25 years of experience in government and internal investigations.

Our investigation revealed the following:

  • A former employee created multiple separate Twitter accounts and used them to post critical comments related to specific members of the Pulte family*.

  • The former employee acted alone. There was no evidence that other Company employees were involved in, or had knowledge of, his actions.

  • There was no evidence that the former employee used artificial intelligence or other automated technology, such as bot networks, to post on Twitter.

“Pulte Group’s board and leadership team sincerely regret that inappropriate comments were posted on social media and violated the standards we hold for all employees. said Thomas Folliard, Chairman of the Board of Pulte Group. “We have the utmost respect for the founder and his family with whom the company maintains a positive relationship.After this comprehensive review, we consider this investigation complete and closed.” .”

*William J. Pulte, founder of PulteGroup, retired in 2010 and passed away in 2018. His grandson, Bill Pulte, was a member of the Board of Directors from September 2016 until he was in May 2020, but is not associated with or represents the Company. .

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