Friday, Palm Harbor Homes, Inc. (PHHM), a factory-built homebuilder, reported the death of Lee Posey, the company's founder. Lee Posey had been suffering from pancreatic cancer and died at his home today.
The Addison, Texas-based company said Posey having founded the company in 1977, and was the driving force for both the cultural and business development of the company since then.
Palm Harbor said Posey was also widely recognized as a visionary leader in the industry having built a unique company known for innovative design, construction and marketing with a commitment to customer satisfaction.
Posey was also credited with taking personal interest in encouraging every one of his teammates to strive for the same high standards of personal character and work ethic as he did.
PHHM is currently trading at $5.18, up $0.02 or 0.39% on a volume of 30,554 shares on the Nasdaq.
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