On March 6, 2013, the Board of Directors of William Lyon Homes approved a newly established role of Executive Chairman for General William Lyon, effective immediately. General Lyon will no longer serve as Chief Executive Officer of the company but will continue to serve as Chairman of the Board. The board appointed William H. Lyon, the company's current President and Chief Operating Officer, to serve as Chief Executive Officer of the company, and Matthew R. Zaist, the company's current Executive Vice President, to serve as President and Chief Operating Officer of the company, each effective immediately.

General Lyon was elected director and Chairman of the Board of The Presley Companies, in 1987 and has served in that capacity in addition to his role as the Chief Executive Officer of the company since November 1999. Mr. Lyon, the company's current Chief Executive Officer, worked full time with the former William Lyon Homes from November 1997 through November 1999 as an assistant project manager, has been employed by the company since November 1999 and has been a member of the Board since January 25, 2000.