Former Senator Jeff Flake joins Taylor Morrison Home’s Board

By Barbara Wenger

Jeffrey Lane Flake, who most recently served as a U.S. Senator from Arizona, has been named to the board of homebuilder Taylor Morrison Home Corp.

Flake – who joins the recently expanded board from seven to eight members and will serve on the nominating and governance committee – was tapped for his political chops.

In a joint release, chairman Taylor Morrison and CEO Sheryl Palmer said Flake’s leadership and unique public policy will be an asset as the company navigates a complex regulatory environment.

A Republican, Flake previously served in the U.S. House of Representatives from 2001 until 2013 and served on the Appropriations, Natural Resources, Judiciary and Foreign Relations Committees. During his time in the Senate, Flake served on the Committees on Energy and Natural Resources, Foreign Relations and Judiciary.

He is known as a vocal critic of President Donald Trump, and there was much speculation he’d run against him. But Flake has announced he wouldn’t be seeking the presidency, and as of December 2018, he had voted with Trump's position on legislative issues 84% of the time.

As a director at Taylor Morrison Home, Flake’s pay includes “the company’s standard compensation provided to all the company’s independent directors for service on the board – currently a $75,000 annual cash retainer, an additional $10,000 annual cash retainer payable to members of the Nominating Committee and an annual equity award with a grant date fair value of $140,000 and payable in the form of restricted stock units,” according to the firm’s SEC filing about the appointment.

 “I’m excited to join the board of this top Arizona-based company,” said Senator Flake. “Taylor Morrison has an unrivaled reputation for quality and trust in the communities that it builds across the country. I look forward to joining this very talented group of directors and supporting the company in its focus on strategic growth and enhancing the customer experience.”

Senator Flake is a New York Times best-selling author and a frequent commentator on public policy. He serves as a contributor to CBS News, where he also partners with the network on a series called “Common Ground.” In the fall of 2019, he will be a Resident Fellow at the Kennedy School of Government at Harvard University. He was born in Snowflake, Arizona, a town named in part for his great-great-grandfather, Mormon pioneer William J. Flake. He worked in public affairs after college and was the executive director of the Foundation for Democracy in Namibia and executive director of the Goodwater Institute before entering the House of Representatives.




Published date: February 7, 2019