Orleans Homebuilders announced today that Michael T. Vesey, its President and Chief Operating Officer, has passed away. The Company previously announced that Mr. Vesey had taken a second leave of absence related to an existing medical condition. The Company remains confident that Mr. Vesey's responsibilities will be carried out effectively by existing management.
Jeffrey P. Orleans, the Company's Chairman and Chief Executive Officer stated, "It is with deep sorrow that we announce Mike's passing. Mike was a respected leader at the Company for more than 22 years and a dear friend, but above all, Mike was a dedicated family man. We extend our deepest sympathies and prayers to Mike's wife, Kelly, their four children and the extended Vesey family."