PulteGroup Inc. shares ticked higher in the extended session Tuesday after independent board member James Grosfeld resigned from the homebuilder’s board. Pulte shares advanced 1% to $18 after hours. In a letter attached to a Securities and Exchange Commission filing, Grosfeld said he resigned because since March 22, “I have been excluded from a number of subsequent Board meetings, and therefore see no useful purpose of remaining on the Board.” Grosfeld, who is also an independent board member on BlackRock Inc. board, owns 1.7 million shares, or a 0.5% stake, of Pulte, according to FactSet data. The development follows a letter from founder Bill Pulte on Monday, blasting Chief Executive Richard Dugas for destroying value in the company. Over the past 12 months, Pulte shares have fallen 20%.
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