Forestar Group Inc. (NYSE: FOR) announced that James (Jim) D. Allen has been named Chief Financial Officer (CFO) of Forestar, effective today.

Mr. Allen joins the Forestar team with over 35 years of operating and financial experience, most recently serving as a Senior Operating Partner at Palm Beach Capital where he was responsible for operational oversight and executive and financial support of the firm’s portfolio companies. Prior to joining Palm Beach Capital, he served as CFO of Hollander Sleep Products and held a variety of executive roles at both private and public companies, including Operating Vice President and Group CFO at Sun Capital Partners, Chief Administrative Officer at Mattress Firm Inc. and a variety of C-Suite roles at Tandycrafts Inc. after spending 10 years at PricewaterhouseCoopers where he began his career.

Over the course of his career, Mr. Allen has worked to drive performance improvement and maximize value for a wide range of companies in the manufacturing, retail, restaurant, consumer products and service industries. His experience has included working with companies through rapid expansion, strategic acquisitions and business integrations. Mr. Allen graduated from Evangel University with a BBA in Accounting and Management.

Donald J. Tomnitz, Chairman of the Board, said, “We are excited to welcome Jim to the Forestar team. His significant executive experience in driving operational performance and value creation across a diverse range of industries will be valuable to Forestar as we continue growing our national lot manufacturing platform.”

About Forestar Group Inc.

Forestar Group Inc. is a residential lot development company with operations in 51 markets in 20 states at December 31, 2019 and is a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002.

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