Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, recently announced that Kevork S. Hovnanian, founder and Chairman of the Board, passed away at New York Presbyterian Hospital. Mr. Hovnanian founded the Company in 1959. He led the Company as President until 1988 and as Chief Executive Officer until 1997, when his son, Ara, succeeded him as President and Chief Executive Officer. Mr. Hovnanian continued to serve as Chairman of the Board. He was 86 years old.
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"Mr. Hovnanian was the heart and soul of our Company and all of our associates mourn this tragic loss. Our deepest condolences and prayers are with Mr. Hovnanian's wife, Sirwart, and his entire family," stated J. Larry Sorsby, Executive Vice President and Chief Financial Officer. "Mr. Hovnanian was a visionary who brought tremendous leadership, energy and passion to his job. He made an indelible mark on this Company and on the community, where he felt a responsibility and a deep commitment to share his good fortunes. He was a great man and will be dearly missed by all who knew him." Mr. Hovnanian's accomplishments have led to numerous honors and awards for both the man and the Company. More importantly, he cared about giving back and through his philanthropic efforts established a lasting legacy. Some of his more recent efforts include: the K. Hovnanian Children's Hospital at Jersey Shore University Medical Center in Neptune, NJ, the first Children's Hospital in the area; generous donations to the New York Presbyterian Hospital in New York City, who has named the Cardiology Practice area in honor of the K. Hovnanian Family and the K. Hovnanian Pavilion and the Alton A. Hovnanian Emergency Care Center at Riverview Medical Center in Red Bank, NJ.
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