Elizabeth Acton, the former chief financial officer at Comerica (CMA), has been elected to the Board of Directors at homebuilder Beazer Homes USA (BZH).
Atlanta-based Beazer said Thursday that Acton would join the board immediately and serve on its finance and audit committees.
Acton stepped down as Comerica's CFO in November and officially retired from the $62 billion-asset company last month. Before joining Comerica in 2002 she had been vice president-treasurer at Ford Motor Co.
Beazer is expected to tap Acton's 35 years of financial management experience to help guide it back to profitability after years of losses stemming from the real estate bust. Beazer, which builds homes nationwide, lost $205 million last fiscal year and has lost close to $1.8 billion since the start of 2007, according to its most recent annual report.
Earlier this week the company announced that it has formed a real estate investment trust that will acquire recently constructed single-family homes and turn them into rental properties. The REIT, Beazer Pre-Owned Rental Homes, has raised $85 million and its outside investors include the private-equity group Kohlberg Kravis Roberts & Company.