Douglas Elliman pushes out chairman and CEO amid rape allegations against star realtors: report
The CEO of Douglas Elliman left the giant real estate brokerage an investigation commissioned by the company’s board unearthed a sexually charged work culture, according to a report.Howard Lorber, president and CEO of parent company Vector Group, resigned on Monday as Douglas Elliman’s executive chairman, ending a tenure that spanned more than two decades at the helm of the $170 million realtor firm that has built significant footprints in New York, Florida and Southern California.Douglas Elliman issued a press release indicating that Lorber, 76, decided to retire.But The Wall Street Journal reported on Sunday that the board pushed Lorber to quit.Douglas Elliman also announced that Scott Durkin, president and CEO of the company’s brokerage business, was relieved of his duties on Friday.No reason for the termination was stated in the company’s SEC filings.
Shares of Douglas Elliman were up by more than 3.5% after the start of trading on Wall Street on Monday.Douglas Elliman’s workplace culture came under scrutiny earlier this year after it was alleged that two of its former star brokers, the brothers Tal and Oren Alexander, sexually assaulted more than 30 women dating back to their start at the firm in 2008.In the wake of the allegations against the Alexander brothers, Elliman’s board formed a committee to probe the company’s workplace.
An initial review conducted by Manhattan-based attorney Marc Kasowitz was deemed insufficient due to his close relationship with Lorber, according to The Journal.The Post has sought comment from Kasowitz.“As longtime litigation counsel to Douglas Elliman, our firm was preparing to defend the company against potential claims,” Kasowitz said in a statement to The Journal.“Any suggestion that in doing so we would be less aggressive or effective in finding out the true facts because of our longtime business and personal relationship with Mr.
Lorber makes no sense and is the exact opposite of the truth.”The second ...