Beazer Homes USA (NYSE: BZH) is a Fortune 500 American homebuilding company based in Atlanta, Georgia. The company builds and sells primarily single-family homes in twenty states of the continental United States. It also offers home mortgage services through its subsidiary, Beazer Mortgage Corporation. In 2006 and 2007 Beazer Homes USA won awards across the country in various Parade of Homes events.
Beazer Homes USA, Inc. and its subsidiaries (the “Company”) are committed to maintaining the highest ethical standards and compliance with the law at all levels. This Code of Business Conduct and Ethics (the “Code”) is intended as an overview of guiding principles. The Code is not intended as a restatement of the Company’s policies and procedures, which can be found through various sources, including on The Beazer Way and in the Employee Handbook located on the Company’s Intranet.
Compliance with the Code is mandatory, and, the requirements of the Code apply to all Directors and Employees of the Company (collectively, “Employee(s)”). Adherence to the requirements of the Code is a condition of employment at the Company, but no contract of employment is intended or offered by reason of the Code. Violations of the Code will not be tolerated and will result in appropriate action being taken, including disciplinary action, up to and including termination, against any Employee who has committed or participated in any such violations.
The Code cannot and is not intended to cover every applicable law or provide answers to all questions that might arise. Nor do the provisions of the Code address exclusively legal matters. Because the Company’s business depends upon the reputation of the Company and its Employees for integrity and principled business conduct, by design the Code often goes beyond the requirements of applicable laws. You must rely on your good sense of what is right, including a sense of when it is appropriate to seek guidance regarding the appropriate course of conduct. In order to ensure that the Company can maintain the respect of customers, Employees, Partners, regulatory authorities, governmental authorities and the communities in which the Company operates, you should ask yourself whether the conduct that is being contemplated would withstand public disclosure and scrutiny and whether it would be consistent with the Company’s Core Value Statement:
Beazer is committed to earning the trust of customers, Employees, and Partners through open communication, responsiveness and respect.
The Company will from time-to-time publish Interpretative Guidelines for this Code (the “Guidelines”) to provide more detailed explanations and guidance about how the Code applies in particular circumstances. Copies of the Guidelines may be obtained from the Corporate Office or from the Company’s Intranet. Additionally, the Company has many specific policies and procedures that provide Employees with guidance on various matters relevant to their work and conduct, and you must be familiar with and comply with those policies and procedures that are relevant to your work and conduct at the Company.
To ensure that all Employees understand their responsibilities under the Code, all new Employees will participate in introductory training on the Code. In addition, all Employees will receive periodic and mandatory training on their responsibilities under the Code. As an Employee, you are expected to attend these training sessions, and it is your responsibility to ensure that you understand your obligations and that you follow up with any questions with the appropriate resources and/or individuals if there are topics about which you are unclear.
To the extent you have any questions about the Code, the training program, or, more generally, the Company’s compliance program, you should ask your immediate supervisor, the Company’s Compliance Officer, or the Company’s General Counsel for clarification and/or additional information.
This Code supersedes any prior versions of the Code. In any conflict with the existing Company policies and procedures already in place and communicated to Company Employees and/or Directors, this Code shall govern.
Any waivers of this Code for Directors, executive officers, or any senior financial officer may be made only by the Board of Directors or the Nominating/Corporate Governance Committee (“NCGC”), and must be promptly disclosed to shareholders in accordance with applicable laws, rules and regulations. Unless otherwise expressly set out in any particular section of this Code, no waiver or exception will be effective unless granted in writing from the President/CEO of the Corporate Office, or, for the CEO and Directors, the Chair of the Nominating Corporate Governance Committee of the Board of Directors (“NCGC”).
Beazer Homes USA, with a domestic workforce of over 2,700 employees, required a scalable talent management solution that could be rapidly deployed, easily integrate with existing applications, and offer advanced analytics and metrics tools for management.
“Cornerstone OnDemand was the clear choice to replace our existing LMS because of the solution’s flexibility, configurability and ease of use,” said Dorn Fowler, director of Training and Development at Beazer. “Cornerstone has also been able to respond to our specific needs for complex integrations and rapid deployment. We are happy to have partnered with a vendor who truly understands our business needs.”
In a matter of weeks, Beazer will realize immediate benefits of on-demand learning and training. In addition to generating live events that will be used for online learning, Beazer will make available more than 800 quick courses to provide employees with just-in-time access to critical situational knowledge. Managers will also be able to quickly measure how their direct reports are progressing with Cornerstone’s user-friendly analytics and reporting tools.
“We are pleased to be able to offer Beazer Homes a long-term solution and functionality that meets their objectives and outperforms their previous LMS,” said Adam Miller, president and CEO, Cornerstone OnDemand, Inc. “Cornerstone’s talent management suite will positively affect this industry leader’s bottom-line and optimize their workforce, in addition to supporting their plans for growth.”
About Beazer Homes USA
The Beazer family of companies has been building homes and communities for America’s families for decades, and is consistently ranked one of the top ten single family homebuilders in the nation. Beazer is a highly regarded industry leader, using technology to improve company efficiency and provide enhanced customer service to homebuyers. A model of financial strength and stability, Beazer Homes USA is listed on the New York Stock Exchange (NYSE: BZH).
Beazer Homes USA has disclosed that it is the subject of a new class-action lawsuit filed on behalf of present and former participants and beneficiaries of the Beazer Homes 401(k) plan. The lawsuit names as defendants Beazer Homes, certain current and former officers and directors, and the plan's benefits-administration committee.
The complaint, filed in U.S. District Court for the Northern District of Georgia, alleges breach of fiduciary duties under the Employee Retirement Income Security Act as a result of investments by the plan in Beazer stock when participants allegedly were not provided timely, accurate, and complete information about the company.As of December 31, 2005, Beazer stock accounted for 43.65 percent of the plan's assets, according to Reuters.
The company also disclosed that the Securities and Exchange Commission has launched an informal inquiry to determine whether federal securities laws were violated. In its regulatory filing, the home builder offered no further details, other than to add that it intends to cooperate fully. Beazer asserted in its filing that it has found no evidence to support the allegations and intends to vigorously defend the action.
Beazer earlier disclosed that its audit committee has launched an internal probe into the company's mortgage-origination business, which according to Reuters is already the subject of several lawsuits and a federal investigation. According to the wire service, the newly filed lawsuit asserts that Beazer's stock began to fall after a March 18 article in The Charlotte Observer, which reported that Beazer was being investigated by federal housing officials about questionable loans arranged by its mortgage unit.
Beazer Homes USA, Inc. and its subsidiaries (the “Company”) are committed to maintaining the highest ethical standards and compliance with the law at all levels. This Code of Business Conduct and Ethics (the “Code”) is intended as an overview of guiding principles. The Code is not intended as a restatement of the Company’s policies and procedures, which can be found through various sources, including on The Beazer Way and in the Employee Handbook located on the Company’s Intranet.
Compliance with the Code is mandatory, and, the requirements of the Code apply to all Directors and Employees of the Company (collectively, “Employee(s)”). Adherence to the requirements of the Code is a condition of employment at the Company, but no contract of employment is intended or offered by reason of the Code. Violations of the Code will not be tolerated and will result in appropriate action being taken, including disciplinary action, up to and including termination, against any Employee who has committed or participated in any such violations.
The Code cannot and is not intended to cover every applicable law or provide answers to all questions that might arise. Nor do the provisions of the Code address exclusively legal matters. Because the Company’s business depends upon the reputation of the Company and its Employees for integrity and principled business conduct, by design the Code often goes beyond the requirements of applicable laws. You must rely on your good sense of what is right, including a sense of when it is appropriate to seek guidance regarding the appropriate course of conduct. In order to ensure that the Company can maintain the respect of customers, Employees, Partners, regulatory authorities, governmental authorities and the communities in which the Company operates, you should ask yourself whether the conduct that is being contemplated would withstand public disclosure and scrutiny and whether it would be consistent with the Company’s Core Value Statement:
Beazer is committed to earning the trust of customers, Employees, and Partners through open communication, responsiveness and respect.
The Company will from time-to-time publish Interpretative Guidelines for this Code (the “Guidelines”) to provide more detailed explanations and guidance about how the Code applies in particular circumstances. Copies of the Guidelines may be obtained from the Corporate Office or from the Company’s Intranet. Additionally, the Company has many specific policies and procedures that provide Employees with guidance on various matters relevant to their work and conduct, and you must be familiar with and comply with those policies and procedures that are relevant to your work and conduct at the Company.
To ensure that all Employees understand their responsibilities under the Code, all new Employees will participate in introductory training on the Code. In addition, all Employees will receive periodic and mandatory training on their responsibilities under the Code. As an Employee, you are expected to attend these training sessions, and it is your responsibility to ensure that you understand your obligations and that you follow up with any questions with the appropriate resources and/or individuals if there are topics about which you are unclear.
To the extent you have any questions about the Code, the training program, or, more generally, the Company’s compliance program, you should ask your immediate supervisor, the Company’s Compliance Officer, or the Company’s General Counsel for clarification and/or additional information.
This Code supersedes any prior versions of the Code. In any conflict with the existing Company policies and procedures already in place and communicated to Company Employees and/or Directors, this Code shall govern.
Any waivers of this Code for Directors, executive officers, or any senior financial officer may be made only by the Board of Directors or the Nominating/Corporate Governance Committee (“NCGC”), and must be promptly disclosed to shareholders in accordance with applicable laws, rules and regulations. Unless otherwise expressly set out in any particular section of this Code, no waiver or exception will be effective unless granted in writing from the President/CEO of the Corporate Office, or, for the CEO and Directors, the Chair of the Nominating Corporate Governance Committee of the Board of Directors (“NCGC”).
Beazer Homes USA, with a domestic workforce of over 2,700 employees, required a scalable talent management solution that could be rapidly deployed, easily integrate with existing applications, and offer advanced analytics and metrics tools for management.
“Cornerstone OnDemand was the clear choice to replace our existing LMS because of the solution’s flexibility, configurability and ease of use,” said Dorn Fowler, director of Training and Development at Beazer. “Cornerstone has also been able to respond to our specific needs for complex integrations and rapid deployment. We are happy to have partnered with a vendor who truly understands our business needs.”
In a matter of weeks, Beazer will realize immediate benefits of on-demand learning and training. In addition to generating live events that will be used for online learning, Beazer will make available more than 800 quick courses to provide employees with just-in-time access to critical situational knowledge. Managers will also be able to quickly measure how their direct reports are progressing with Cornerstone’s user-friendly analytics and reporting tools.
“We are pleased to be able to offer Beazer Homes a long-term solution and functionality that meets their objectives and outperforms their previous LMS,” said Adam Miller, president and CEO, Cornerstone OnDemand, Inc. “Cornerstone’s talent management suite will positively affect this industry leader’s bottom-line and optimize their workforce, in addition to supporting their plans for growth.”
About Beazer Homes USA
The Beazer family of companies has been building homes and communities for America’s families for decades, and is consistently ranked one of the top ten single family homebuilders in the nation. Beazer is a highly regarded industry leader, using technology to improve company efficiency and provide enhanced customer service to homebuyers. A model of financial strength and stability, Beazer Homes USA is listed on the New York Stock Exchange (NYSE: BZH).
Beazer Homes USA has disclosed that it is the subject of a new class-action lawsuit filed on behalf of present and former participants and beneficiaries of the Beazer Homes 401(k) plan. The lawsuit names as defendants Beazer Homes, certain current and former officers and directors, and the plan's benefits-administration committee.
The complaint, filed in U.S. District Court for the Northern District of Georgia, alleges breach of fiduciary duties under the Employee Retirement Income Security Act as a result of investments by the plan in Beazer stock when participants allegedly were not provided timely, accurate, and complete information about the company.As of December 31, 2005, Beazer stock accounted for 43.65 percent of the plan's assets, according to Reuters.
The company also disclosed that the Securities and Exchange Commission has launched an informal inquiry to determine whether federal securities laws were violated. In its regulatory filing, the home builder offered no further details, other than to add that it intends to cooperate fully. Beazer asserted in its filing that it has found no evidence to support the allegations and intends to vigorously defend the action.
Beazer earlier disclosed that its audit committee has launched an internal probe into the company's mortgage-origination business, which according to Reuters is already the subject of several lawsuits and a federal investigation. According to the wire service, the newly filed lawsuit asserts that Beazer's stock began to fall after a March 18 article in The Charlotte Observer, which reported that Beazer was being investigated by federal housing officials about questionable loans arranged by its mortgage unit.