R
ichard Lampen, Douglas Elliman's chief operating officer, has retired at the age of 71. His departure was described as voluntary in a Securities and Exchange Commission filing. He will remain on the company's board of directors as a non-employee member. Lampen also serves as head of operations at New Valley Ventures, a real estate tech subsidiary of Elliman.

    Lampen is forfeiting over $1 million in unvested stock due to his departure. He owns approximately 3% of Elliman, with shares worth around $4 million. Last year, he received a significant bonus, despite the company's quarterly losses and cost-cutting measures. His total compensation for 2023 was around $3 million.

    Lampen's exit follows other recent executive changes at Elliman. Longtime chairman and CEO Howard Lorber retired in October, and the company later terminated the CEO of its brokerage division, Scott Durkin. However, a source claims Lampen's departure is unrelated to these events.

    Elliman has made efforts to address internal issues, including an investigation into the company's culture that led to Lorber's departure. The board had urged him to resign following the inquiry. Lorber later admitted to having intimate relationships with two brokers as part of the investigation.