Douglas Elliman Inc. (NYSE: DOUG) announced that Howard M. Lorber, age 76, will retire from his roles as President, Chief Executive Officer, and Chairman of the Board. The company expressed its gratitude to Mr. Lorber for his strategic leadership and decades of dedication, which have helped establish Douglas Elliman as a premier real estate brokerage firm, known for its luxury service and innovation.
Michael Liebowitz, age 55, a current board director, has been appointed as the new Chairman and Chief Executive Officer of Douglas Elliman.
“Douglas Elliman is an iconic brand, and I’m honored to lead the company into its next phase of growth and diversification,” said Liebowitz. “With a solid financial foundation, a strong pipeline in our Development Marketing business, and a team of world-class agents, I’m confident that our best days are ahead. We remain committed to executing our strategic vision and building on our industry-leading position to maximize shareholder value.”
Liebowitz is an experienced entrepreneur, private investor, and business executive with a strong track record in the insurance and financial sectors. Over the last 25 years, he has founded or acquired numerous 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 CEO of Nocopi Technologies Inc. (OTC QB: NNUP), and has previously held executive roles at Harbor Group, Innova, and Alliant.
In addition to his business ventures, Liebowitz has extensive experience in the real estate industry, currently redeveloping the Mondrian South Beach Hotel in Miami. He is also actively involved in philanthropic efforts with organizations such as the Make-A-Wish Foundation, Bascom Palmer Eye Institute, and Baptist Health Foundation.
Liebowitz holds a B.S. in Finance from CW Post College-LI University.
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.
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