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Governance

The homebuilding business is about the future. Homes are built for generations to come to make memories, grow and build wealth over time. That is why we build with the highest standards and strongest partnerships. We have built a business designed to weather whatever the future may bring and create value for all our stakeholders by operating with integrity and purpose.

We believe transparency is essential to operating an inclusive, stakeholder-driven business. Publicly disclosing our organizational governance standards and practices in an easy-to-find, easy-to understand format is part of how we do that. Because strong corporate governance is a key factor in driving long-term stockholder value, our Board of Directors has implemented a robust governance framework and leading practices to oversee the management of our business

Strong governance and oversight are the backbone of businesses built for the future

Sustainability is integrated into virtually every function of our organization and is a critical strategy for our business. As such, we have created a number of structures as well as an Environmental Management System (EMS) to oversee and continuously fine-tune these efforts.

Sustainability Oversight Structure

We have a number of governance structures that are specifically tasked with driving our sustainability strategies and actions throughout our entire organization.

Two directors also serve as the Board’s liaisons to management on ESG matters:

Dorene C. Dominguez
Chairwoman and CEO
Vanir Group of Companies, Inc. Vanir Construction, and
Vanir Development Company
 
Arthur R. Collins
Founder and Managing Partner
theGROUP

Board of Directors Oversight

The Board of Directors oversees sustainability as part of our overall business strategy. In addition, the Board’s Audit and Compliance Committee has oversight responsibilities for environmental sustainability matters; its Management Development and Compensation Committee has oversight responsibility for social responsibilities for social matters related to human capital management and employee health and safety; and its Nominating and Corporate Governance Committee has oversight responsibility for governance.

National Advisory Board

As discussed on the following page, nationally recognized leaders meet twice yearly with us to discuss recommendations related to sustainability and other issues.

Sustainability Leadership Team

A group of high-level executives, led by our Chief Operating Officer and Senior Vice President for Sustainability and including select Division Presidents, convenes on a regular basis to discuss sustainability strategies and craft, refine company policies and initiatives, and create buy-in with leaders across all of our operating regions and major functional departments.

ESG Steering Committee

A group of senior executives, led by our Senior Vice President of Investor Relations and Senior Vice President for Sustainability, interacts with various disciplines within KB Home and with key external stakeholders, raising the profile of ESG across the Company and enhancing our transparency and disclosure around our ESG initiatives.

Environmental Management System (EMS)

We have a process for decision-making and continuous improvement for all of our sustainability initiatives, including environmental, which involves all levels of the organization. In 2020, we formalized this process into an EMS process, as outlined on page 56, to continue to expand the transparency of our processes.