Arlington-based D.R. Horton Inc., the nation’s largest homebuilder, will get a new leader.
David Auld, the builder’s CEO for almost nine years, will step down and become executive vice chair of the company’s board of directors Oct. 1, the company said Wednesday. The company did not specify why Auld is leaving his position.
D.R. Horton co-chief operating officer Paul Romanowski will become president and CEO of the company that same day.
Donald R. Horton, the company’s founder, will continue as chairman of the board but will no longer serve as an executive officer beginning Oct. 1, according to an Securities and Exchange Commission filing. The board of directors made the decision Sept. 19 to promote Romanowski and appoint him to the company’s board, according to the filing.
Romanowski has served as co-chief operating officer since October 2021 after serving as a regional president for seven years and South Florida division president for 14 years. Michael Murray will continue as chief operating officer.
“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,” Auld said in a statement. “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.”
Donald Horton cited Romanowski’s 20 years on the company’s management team. The company topped $33.4 billion in revenue last year, with almost $6 billion in profit.
“His outstanding performance as a division and region president and most recently as co-COO has prepared him for this opportunity,” Horton said. “Paul is an effective leader and mentor who will help our company continue to scale and sustain its position as the leading homebuilder in the United States.”
Horton said the company achieved tremendous growth and improvements in operational efficiency and returns during Auld’s tenure.
“David is a genuine, trusted leader and has been an invaluable member of the company’s management for 35 years,” Horton said. “Most importantly, David’s leadership has helped us strengthen the company’s culture and development of the future leaders of D.R. Horton.”
D.R. Horton ranked No. 1 in national closings in the 2022 Builder 100, based on its almost 82,000 closings in 2021. The company closed 83,201 homes in the 12-month period ending on June 30, 2023, the company said.
