Howard M. Lorber Has Decided to Retire;
Board Director Michael Liebowitz Appointed Chairman &
CEO
Douglas Elliman Inc. (NYSE: DOUG, “Douglas Elliman” or the
“Company”) today announced that Howard M. Lorber (76) has decided
to retire from his position as President, Chief Executive Officer
and Chairman of the Board. Douglas Elliman extends its deepest
appreciation to Mr. Lorber for his strategic vision and years of
dedication and hard work that have made Douglas Elliman the
country’s premier real estate brokerage firm, setting new standards
in luxury service and innovation.
Douglas Elliman Board Director Michael Liebowitz (55) has been
appointed Chairman and Chief Executive Officer of Douglas
Elliman.
“Douglas Elliman is an iconic brand, and I am honored to be
appointed as Chairman and CEO to lead the Company into its next
chapter of growth and diversification,” said Mr. Liebowitz. “With a
strong balance sheet, robust pipeline of projects in our
Development Marketing business, and the competitive advantages
provided by our dedicated team of world-class agents, I am
confident that Douglas Elliman’s brightest days are ahead. We look
forward to continue executing on our strategic vision, building on
the Company’s industry-leading position and maximizing shareholder
value.”
Mr. Liebowitz is an entrepreneur, private investor, and seasoned
business executive with extensive experience founding, acquiring,
and monetizing businesses in the insurance and financial
industries. In the past 25 years, Mr. Liebowitz has acquired or
been a founder of companies, including Harbor Group Consulting LLC,
National Financial Partners Corp. (NYSE: NFP), Innova Risk
Management, and High Street Valuations. He currently serves as
Chairman and Chief Executive Officer of Nocopi Technologies Inc.
(OTC QB: NNUP). Previously, he served as President and Chief
Executive Officer of the Harbor Group Division of Alliant (and
Managing Director and Executive Vice President of Alliant) and High
Street Valuations until 2023 and Harbor and Innova until 2018 and
2019, respectively, when they were acquired by Alliant. In addition
to serving as Chairman of the Board of Nocopi, he has previously
served on the boards of Ladenburg Thalmann Financial Services Inc.
(NYSE American: LTS) and The Hilb Group. Mr. Liebowitz has also
acted as an advisor to many of the largest financial services
companies around the globe on their complex insurance matters
within their investment banking/M&A groups. In addition, he has
experience in the real estate industry and is currently
redeveloping the Mondrian South Beach Hotel in Miami, FL, a
property he has owned since 2019. Mr. Liebowitz is also involved in
philanthropic efforts with organizations such as the Make a Wish
Foundation, Bascom Palmer Eye Institute, Baptist Health Foundation,
The House Ear Institute at the University of Southern California
and American University in Washington, DC. Mr. Liebowitz graduated
from CW Post College-LI University with a B.S. in Finance.
About Douglas Elliman Inc.
Douglas Elliman Inc. (NYSE: DOUG, “Douglas Elliman”) owns
Douglas Elliman Realty, LLC, which is one of the largest
residential brokerage companies in the United States with
operations in New York City, Long Island, Westchester, Connecticut,
New Jersey, the Hamptons, Massachusetts, Florida, California,
Texas, Colorado, Nevada, Connecticut, Maryland, Virginia, and
Washington, D.C. In addition, Douglas Elliman sources, uses and
invests in early-stage, disruptive property technology (“PropTech”)
solutions and companies and provides other real estate services,
including development marketing, property management and settlement
and escrow services in select markets. Additional information
concerning Douglas Elliman is available on its website,
investors.elliman.com.
Investors and others should note that we may post information
about Douglas Elliman on our website at investors.elliman.com or,
if applicable, on our accounts on Facebook, Instagram, LinkedIn,
TikTok, X, YouTube or other social media platforms. It is possible
that the postings or releases could include information deemed to
be material information. Therefore, we encourage investors, the
media and others interested in Douglas Elliman to review the
information we post on our website at investors.elliman.com and on
our social media accounts.
Forward-Looking and Cautionary Statements
This press release includes forward-looking statements within
the meaning of the federal securities law. All statements other
than statements of historical or current facts made in this
document are forward-looking. These statements include, but are not
limited to, statements regarding the future management team and
Board of Directors of Douglas Elliman. We identify forward-looking
statements in this document by using words or phrases such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may be,”
“continue” “could,” “potential,” “objective,” “plan,” “seek,”
“predict,” “project” and “will be” and similar words or phrases or
their negatives. Forward-looking statements reflect our current
expectations and are inherently uncertain. Actual results could
differ materially for a variety of reasons.
Risks and uncertainties that could cause our actual results to
differ significantly from our current expectations are described in
our Annual Report on Form 10-K for the year ended December 31, 2023
and our Quarterly Reports on Form 10-Q filed thereafter. We
undertake no responsibility to publicly update or revise any
forward-looking statement, except as required by applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20241022685699/en/
Stephen Larkin, Douglas Elliman Inc. 917-902-2503
Benjamin Spicehandler/Emily Claffey/Catherine Livingston, FGS
Global 212-687-8080
J. Bryant Kirkland III, Douglas Elliman Inc. 305-579-8000
Douglas Elliman (NYSE:DOUG)
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