KB Home announced the appointment of Robert McGibney as President, effective March 1, 2026. At that time, McGibney, a KB Home veteran with over 25 years of service, will succeed Jeffrey Mezger, who will become KB Home's first Executive Chairman of the board after serving as Chief Executive Officer for two decades and Chairman since 2016. The board also appointed McGibney as a director, effective March 1, 2026, and will nominate him to stand for election as a director at the Company's 2026 Annual Meeting of Stockholders.

McGibney, 51, joined KB Home in 2000 in its Las Vegas division, and held roles of increasing responsibility with the Company from Division President (2012) to Regional General Manager (2016), Regional President (2018), and Chief Operating Officer and Executive Vice President (2021). In 2024, McGibney was elevated to President, with overall responsibility for the Company's operations, while also directing business strategy, community and revenue growth and key strategic support functions, such as architecture, marketing, sustainability, and financial services operations, along with leadership development. McGibney earned a Bachelor of Science in Accounting/Finance from Missouri State University.

The board also appointed McGibney as a director, effective March 1, 2026, and will nominate him to stand for election as a director at the Company's 2026 Annual Meeting of Stockholders. Jeffrey Mezger will become KB Home's first Executive Chairman of the board after serving as Chief Executive Officer for two decades and Chairman since 2016. Mezger, 70, who joined KB Home in 1993, was instrumental during his tenure as Chief Executive Officer in repositioning the Company's operations and optimizing its distinctive Built to Order business model through several market cycles to generate profitable growth and solid stockholder returns, along with customer satisfaction levels and sustainability achievements.

As the most senior executive officer of the Company, he will continue to have a key management role with KB Home, including overseeing its high-level strategy, and supporting McGibney in his assumption of the duties of Chief Executive Officer.