ATLANTA, July 1, 2024
/PRNewswire/ -- The Promise Homes Company founder John Hope Bryant today announced he is
transitioning as chairman of the organization, remaining as a
shareholder and supporter. Mr. Bryant founded The Promise Homes
Company in June 2017 and grew it to
become the largest minority-controlled owner of affordable,
single-family rental homes in America, pioneering social impact
strategies and community reinvestment financing — within the
institutional SFR rental sector. He also introduced an innovative
rent-to-own model for the company and industry.
John Hope Bryant Transitions as Chairman in
The Promise Homes Company; Champions Newly Appointed CEO
After five years of solid growth and being heralded by many as a
model for the industry, Bryant sold the company in December 2021 to a new principal owner while
continuing in a non-executive role as chairman and a shareholder in
the new company, providing help and guidance where useful. Most
recently he helped recruit a CEO for the company, Mr. John Ehle, who Bryant strongly endorses and
supports.
Since its founding, the company has grown to more than
$150 million in assets across a
portfolio of just under 700 homes and implemented strong
proprietary resident engagement, financial empowerment, and
minority vendor programs that are becoming industry standard.
Bryant believes this is the appropriate time to transition from his
role as chairman, and has full confidence in the new CEO as The
Promise Homes Company's principal leader.
"I was proud to have been in a non-executive but supportive role
until the company found its new CEO, and now that benchmark has
been achieved. And he has my confidence and my support," stated Mr.
Bryant. "I hope the company will continue to scale and honor the
legacy of minority and women owner vendor support, and empowering
programs for residents." Bryant continued, "I look forward to
supporting them as a shareholder, in hopes they continue to
recognize the value statement and purpose-driven mission that I
built the company on starting in 2017."
Mr. Bryant will avail himself to company leadership as needed
and in his capacity as a substantial shareholder. He continues to
believe in the mission of The Promise Homes Company and believes
the leadership team at the company is strongly positioned to
continue to build on its success. Operation HOPE, also founded by
Bryant, continues to support the residents of The Promises Homes
Company for financial coaching and counseling, and The Promise
Homes Company continues as a member and partner in good standing of
Operation HOPE.
Media Contact:
Lalohni Campbell
la@persemediagroup.com
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SOURCE The Promise Homes Company