Douglas Elliman We’re persevering with to resume our management workforce. in document submitted on friday securities and trade fee As first reported by The New York Occasions, the corporate introduced the firing of Douglas Elliman Realty CEO Scott Durkin.
Durkin was “successfully terminated instantly,” in response to the submitting.
Mr. Durkin’s firing comes days after the corporate introduced the retirement of its mum or dad firm’s CEO, Howard Lorber. Michael Leibowitz, a member of the corporate’s board of administrators, has been appointed as the corporate’s new chairman and chief govt officer.
Mr. Durkin joined Douglas Elliman in 2015, changing into chief working officer in 2016 and president in 2017. He was appointed CEO in 2021 following the choice of Mr. Lorber and former Elliman CEO Dottie Herman.
The New York Occasions reported that Richard Ferrari, who beforehand managed Douglas Elliman’s brokerage gross sales and operations in New York and the Northeast, has been named CEO of Douglas Elliman Realty.
The corporate has confronted backlash in current months from traders who really feel it has mismanaged its funds as a consequence of continued losses in quarterly income. Its worth has fallen from about $900 million to $130 million since 2021, in response to the Occasions.
Moreover, Douglas Elliman and its management have come beneath intense scrutiny for his or her alleged mishandling of sexual assault complaints filed towards former Douglas Elliman brokers Oren and Tal Alexander. There may be.
Alexander household firm official companionis now mediated. facet At present, he’s being sued by the facet for alleged breach of contract.
