Douglas Elliman continues to shake up its leadership team. In a document filed on Friday with Securities and Exchange Commission (SEC), the company announced the resignation of Douglas Elliman Realty’s CEO, Scott Durkin, as first reported by the New York Times.
According to the filing, Durkin was “terminated, immediately.”
Durkin’s firing comes just days after the company announced the resignation of its parent company’s chief executive, Howard Lorber. Michael Liebowitz, a director of the firm’s board, has been appointed as the new chairman and CEO.
Durkin joined Douglas Elliman in 2015, becoming chief operating officer in 2016 and president in 2017. He was named CEO in 2021 after the appointment of Lorber and Dottie Herman, Elliman’s previous CEO.
The New York Times reported that Richard Ferrari, who previously managed sales and brokerage operations for Douglas Elliman in New York and the Northeast, has been named CEO of Douglas Elliman Realty.
The company has come under fire in recent months from its investors, who feel the company’s finances are being mismanaged due to its continued quarterly earnings losses. Its value has dropped from about $900 million to $130 million as of 2021, according to the Times.
Additionally, Douglas Elliman and its leadership have come under scrutiny for alleged misconduct in sexual harassment complaints filed against former Douglas Elliman agents Oren and Tal Alexander.
Alexander Company, Official Partnersnow drunk Side and now he is dealing with Side’s case regarding the breach of their contract.
Related
Source link
