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PulteGroup director who sided with founder against CEO steps down

PulteGroup Inc.director James Grosfeld has resigned from the company's board, effective April 12.

Grosfeld, who served on the board's finance and investment committee,said he sees no "useful purpose" of remaining on the board, noting thathe has been excluded from numerous board meetings since March 22, according to anApril 12 filing.

The news comes just days after the company's lead independentdirector called founder Bill Pulte's campaign against CEO Richard Dugas "misguided,"and said actions by Grosfeldin calling for Dugas' ouster were "unacceptable" and "inexcusable."