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RED BANK, N.J. (AP) - Homebuilder Hovnanian Enterprises Inc. on Wednesday said its board gave President and CEO Ara K. Hovnanian the additional title of chairman.
Hovnanian, 52, is the son of Kevork S. Hovnanian, who founded the company in 1967. He became CEO in 1997 and has held the title of president since 1988. He was named a director in 1981.
He succeeds his father, who died in September, as chairman.
Hovnanian shares lost a penny to close at $4.21.
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