Douglas Elliman We are continuing to renew our leadership team. in document submitted on friday securities and exchange commission As first reported by The New York Times, the company announced the firing of Douglas Elliman Realty CEO Scott Durkin.
Durkin was “effectively terminated immediately,” according to the filing.
Mr. Durkin’s firing comes days after the company announced the retirement of its parent company’s CEO, Howard Lorber. Michael Leibowitz, a member of the company’s board of directors, has been appointed as the company’s new chairman and chief executive officer.
Mr. Durkin joined Douglas Elliman in 2015, becoming chief operating officer in 2016 and president in 2017. He was appointed CEO in 2021 following the selection of Mr. Lorber and former Elliman CEO Dottie Herman.
The New York Times reported that Richard Ferrari, who previously managed Douglas Elliman’s brokerage sales and operations in New York and the Northeast, has been named CEO of Douglas Elliman Realty.
The company has faced backlash in recent months from investors who feel it has mismanaged its finances due to continued losses in quarterly profits. Its value has fallen from about $900 million to $130 million since 2021, according to the Times.
Additionally, Douglas Elliman and its leadership have come under intense scrutiny for their alleged mishandling of sexual assault complaints filed against former Douglas Elliman agents Oren and Tal Alexander. There is.
Alexander family company official partneris now mediated. side Currently, he is being sued by the side for alleged breach of contract.
