- After nine years in the position
- Praise and thanks for Auld
- Paul Romanowski taking over
- Auld will remain as Executive Vice Chair of the Board of Directors at D.R. Horton
- Auld said 98 words
(exechange) — Arlington, Texas, September 20, 2023 — David Auld, chief executive of D.R. Horton, leaves his position. As announced by D.R. Horton Inc. in a news release and in a regulatory filing published on Wednesday, September 20, 2023, David V. Auld leaves his post as chief executive officer at the homebuilder, after nine years in the role, effective October 1, 2023.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
David Auld’s duties as CEO will be taken over by Paul J. Romanowski, currently Executive Vice President and Co-Chief Operating Officer at D.R. Horton Inc.
No reason given
In the announcement, D.R. Horton did not explicitly explain the reason for the move.
Auld will remain as Executive Vice Chair of the Board of Directors at D.R. Horton
D.R. Horton stated: “D.R. Horton, Inc. (NYSE:DHI), America’s Builder, today announced the promotion of Paul J. Romanowski to President and Chief Executive Officer (CEO) and his appointment to the Company’s Board of Directors, both which will be effective October 1, 2023. At that time, David V. Auld will transition from his current role as President and CEO to Executive Vice Chair of the Company’s Board of Directors. Michael J. Murray will continue to serve as Chief Operating Officer (COO) for the Company.”
Share price increase since September 2018
The announcement follows an increase in D.R. Horton Inc.’s share price of 154% since September 2018.
In the position of CEO since 2014
David Auld became CEO of the Company in 2014.
Auld is President and Chief Executive Officer of D.R. Horton, positions he has held since 2014.
Auld was Executive Vice President and Chief Operating Officer from 2013 to 2014.
Auld was Region President overseeing the Company’s homebuilding operations in Florida, North and South Carolina, Georgia and Alabama from 2005 to 2013.
From 1988 to 2005, Auld served as the Division President of the Company and its predecessor’s Orlando Division.
During his tenure at D.R. Horton, Auld has been recognized multiple times as Best CEO in the Homebuilders & Building Products sector of Institutional Investor’s All-America Executive Team, including the most recent three consecutive years.
Prior to 1988, Auld worked for Texas American Bank and General Dynamics.
Auld graduated from Texas Tech University in 1978 with a bachelor of business administration degree in accounting.
98 words by David Auld
In the release announcing his departure as CEO of D.R. Horton Inc., David Auld received praise and thanks.
In announcing his departure, David Auld said 98 words.
“I congratulate Paul”
David Auld stated: “I am humbled and privileged to have helped lead the largest homebuilding company in the United States, and I look forward to continuing to work with the D.R. Horton executive team and Board of Directors in my new role as Executive Vice Chair. I congratulate Paul on his well-deserved promotion to CEO and am extremely grateful for Mike’s important contributions as a key part of our management team in his ongoing role as COO. With strong partnership and leadership from Paul and Mike, in addition to our longtime CFO, Bill Wheat, the Company is well-positioned for continued success.”
Push-out Score for David Auld’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that David Auld was pushed out or felt pressure to leave his position.
exechange reached out to D.R. Horton and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 39.2023 ($).