Market Chatter: Douglas Elliman's Board Reportedly Pushed for Howard Lorber's Resignation as CEO

MT Newswires Live10-28

Douglas Elliman's (DOUG) board pushed for Howard Lorber's resignation as chairman and chief executive officer amid allegations of a sexually charged working culture within the company under his leadership, The Wall Street Journal reported Sunday, citing unnamed sources familiar with the matter.

Lorber retired last week and was succeeded by Michael Liebowitz, a director of Douglas Elliman.

Sources told the WSJ that a special board committee recently probed employee accusations of sexual assaults, and that this was the second internal review of the case in recent months.

Douglas Elliman did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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