An ongoing shakeup at Douglas Elliman may have swept up another long-time company executive.
Stephen Kotler, who serves as CEO of Elliman’s western region, is facing a possible ouster, according to Bloomberg News. Citing unnamed sources, the outlet said Kotler could remain with Elliman in some capacity.
Representatives for Douglas Elliman did not immediately respond to emailed requests from RISMedia to confirm or respond to the report. Kotler did not immediately respond to a request for comment.
The Real Deal reported that Kotler had already stepped down this morning, though RISMedia was not able to independently confirm this at presstime. That report also cited unnamed sources, who claimed the brokerage giant was also shuttering two California offices.
Elliman appears to still be in the middle of major leadership restructuring, following internal investigations and allegations of sexual misconduct, with Chairman Howard Lorber stepping down last October, followed swiftly by President and CEO Scott Durkin.
The Wall Street Journal previously reported that “poor financial results” was a contributing factor in a push to remove Lorber, as was accusations against former star agents Tal and Oren Alexander, who are currently in prison facing numerous allegations of rape and sexual assault.
Kotler was another insider, having joined the company more than three decades ago in Southern California, leading one of the first Elliman teams operating outside of New York. He was named president of the company’s western operations in 2017, having previously served as chief operating officer.
A little over a year ago, Kotler moved to Texas, saying at the time that Elliman viewed that region as a major opportunity for growth.
This is a developing story. Stay tuned to RISMedia for updates.
