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ouglas Elliman's CEO Howard Lorber has stepped down after an investigation by the company's board found a sexually charged work culture. The board had commissioned the probe following allegations against two former star brokers, Tal and Oren Alexander, who are accused of sexual misconduct dating back to 2008.

    Lorber, who had been at the helm for over two decades, resigned as executive chairman on Monday. He was replaced by Scott Durkin, who was also let go from his position as president and CEO of the brokerage business on Friday. The reason for Durkin's termination is unclear.

    The investigation found that the workplace culture was problematic, with allegations against the Alexander brothers including rape, assault, and harassment. Three women have filed civil lawsuits against Oren and Alon Alexander, accusing them of taking turns raping them in separate incidents between 2010 and 2012.

    Douglas Elliman's financial performance has also been under scrutiny, with its market capitalization dropping from $900 million in late 2021 to just $170 million as of Monday. The company's board formed a committee to probe the workplace culture after the allegations against the Alexander brothers surfaced.

    A second investigation was conducted due to concerns about the first review being insufficient because of the close relationship between Lorber and the investigator, Marc Kasowitz. The second probe found additional allegations beyond those against the Alexander brothers.

    Lorbin's departure from Douglas Elliman is also attributed to the company's poor financial results. Shares of the real estate brokerage were up by over 3.5% on Monday following his resignation.