William Lyon Homes announced that its Board of Directors has elected William H. Lyon to serve as Chairman of the Board, effective immediately, succeeding his father, General William Lyon. William H. Lyon has served as a member of the Board since 2000 and as Vice Chairman of the Board since July 2015. Effective as of the same date, the Board elected General Lyon to the newly created position of Chairman Emeritus in recognition of his many years of service to the company, legendary status in the homebuilding industry and his continuing role in providing guidance, support and mentorship to the senior management team.

William H. Lyon has transitioned from Co-Chief Executive Officer to the position of Executive Chairman. Matthew R. Zaist, who had served alongside William H. Lyon as Co-Chief Executive Officer since July 2015, has been elected to serve as the sole Chief Executive Officer and President of the company. As Executive Chairman, William H. Lyon will continue to work with the Chief Executive Officer to establish, implement and direct long-range goals, strategies, plans and policies for the company.