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Board member resigns at KB Home

Ray Irani, president and CEO of Occidental Petroleum, has resigned from the board of directors of Los Angles-based KB Home.

The company did not give a reason for Irani’s departure. CEO Jeffrey Mezger thanked him for his service on the board.

“I leave the KB Home board confident that the company is well positioned, both strategically and financially, to emerge strongly from the current housing market slowdown,” Irani said in a statement. “I have enormous respect for KB Home’s leadership team and look forward to continuing to follow the company in the years ahead.”

KB Home is one of the country’s largest home builders with operations in 14 states.