Foster Takes CEO Position at Fieldstone

Fieldstone Communities Inc., a Newport Beach based home builder, said Friday that Frank Foster has been named chief executive officer. Foster, who became only the third person to be named to the top job in the company’s history, will retain his current position as president and chief operating officer. He succeeds Keith Johnson, who becomes vice chairman of Fieldstone’s board of directors. Foster also was named head of the company’s Salt Lake City affiliate, Fieldstone Homes, Utah. Foster joined Fieldstone in 1986 after 13 years as an executive for Union Bank in Orange County. He was named regional manager of the home builder in 1990, elected to the board of directors in 1992, and moved up to chief operating officer in 1998.