Howard Lorber's sudden departure as CEO of Douglas Elliman Real Estate highlights intense scrutiny over leadership amidst declining financial performance and unresolved sexual misconduct allegations.
Douglas Elliman's market value has plummeted from over $900 million to around $130 million since 2021, raising concerns about leadership effectiveness in managing the brokerage's finances.
Shareholder Brad Tirpak voiced concerns over how sexual assault claims were managed and urged for a change in leadership, illustrating significant dissatisfaction among stockholders regarding corporate governance.
Lorber, chairman since 2003, oversaw the company's rise to prominence but faced increasing criticism as allegations of misconduct surfaced without adequate response from management.
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