Douglas Elliman has faced two years of quarterly losses and is struggling to stabilize its financials, raising concerns about executive performance and governance.
Shareholder Brad Tirpak criticized chairman Howard Lorber for his compensation amid the company's poor performance and the handling of sexual assault allegations, demanding transparency.
Tirpak's letter stated that shareholders deserve answers about how the sexual assault claims were managed and suggested Lorber should be unseated due to leadership failures.
The upcoming shareholder meeting will decide on Lorber's compensation and board structure, both under scrutiny as the firm's stock price hovers at around $2.
#douglas-elliman #financial-struggles #corporate-governance #shareholder-activism #executive-compensation
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