Denver-based homebuilder MDC Holdings Inc. has lost another top financial executive, raising worries about its thinning expertise.
Vilia Valentine, the company’s vice president of finance, corporate controller and chief accounting officer, has submitted a resignation effective Jan. 4.
Her resignation follows that of chief financial officer Christopher Anderson, who left MDC late last year.
“MDC now has no CFO and no controller, which makes us do a double take,” said Stephen East and Paul Przy byl ski, analysts with Ticonderoga Securities, in a research note.
The two argue MDC is too big to run without an executive watching the finances, especially in this difficult housing market.
“We will be as direct as possible, we believe MDC needs both positions filled immediately, not just the controller’s position, but the CFO’s as well,” the note said.
Ticonderoga said it will stay on the sidelines until the company can clarify who will perform those duties.
Valentine, 50, joined MDC in February 2010. She previously held key finance spots at Gaiam and Verio.
MDC said she will help the company complete its 10-K filing for 2011 as a consultant and will be eligible for an $80,000 bonus.
MDC is parent of Richmond American Homes, one of the country’s largest homebuilders. Company shares closed at $17.41 Tuesday. They had reached above $37 a share earlier this year.
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or
