D.R. Horton, Inc. Announces the Passing of Company Founder and Chairman, Donald R. Horton
May 17 2024 - 6:30AM
Business Wire
D.R. Horton, Inc. (NYSE:DHI), America’s Builder, today announced
the sudden passing of Donald R. Horton, the Company’s Founder and
Chairman of the Board of Directors (“the Board”). David V. Auld,
the Company’s Executive Vice Chairman, has been appointed by the
Board to serve as Executive Chairman, effective immediately.
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Donald R. Horton | 1950 - 2024 (Photo:
Business Wire)
“It is with great sadness that I announce the passing of my
friend and our Company’s iconic founder and Chairman, Don (“DR”)
Horton. Throughout the Company’s 46-year existence, he worked
tirelessly to build a national homebuilding operation with a strong
company culture, and the impact of his personal involvement with
our team of operators across the United States has contributed
immeasurable value to our company and people,” Auld said.
Auld continued, “I am deeply grateful to DR for his friendship,
leadership and commitment to making D.R. Horton the leading
homebuilder in America. DR was truly a pioneer in the homebuilding
industry. From the first house he built in 1978 in Fort Worth,
Texas as a local homebuilder, he led the business to unprecedented
growth regionally and then nationally. Under DR’s leadership, we
have had the privilege of helping more than one million American
individuals and families achieve homeownership. We are all indebted
to DR for his vision, tenacity and never-ending drive to continue
to grow and improve our Company. While he is impossible to replace,
we will strive to carry on his legacy of enabling the dream of
homeownership for individuals and families across the United States
in every stage of their lives. Our sincere condolences and prayers
go out to DR’s wife, Marty; his sons, Ryan and Reagan; daughters-in
law, Stacy and Michelle; their four grandchildren; and the rest of
DR’s family.”
Throughout the Company’s history, Don steadfastly maintained a
strategy of decentralized operational decision making, which was
considered unorthodox by many industry observers. The company’s
local leadership teams have been and continue to be empowered to
make local business decisions, such as product offerings, price
points and home features. Today, we consider this important company
tenet a critical ingredient to our past and future success.
Over the years, Don traveled extensively visiting the Company’s
field operations. During these visits, he made it a point to meet
everyone in the sales offices, job sites and division offices, and
he continually emphasized that the people in our operational teams
are the key to our business success. Don was approachable and
relatable to everyone he met and maintained an unassuming personal
lifestyle, as he never forgot his humble beginnings and the hard
work it took to succeed.
Don always referred to the Company, including our employees,
homebuyers, vendors and subcontractors, as the D.R. Horton family.
While the Company has grown significantly, the sentiment remains
true, and Don championed several initiatives for the benefit of
D.R. Horton employees and their families. He founded a Horton
summer camp for employees’ children to enjoy activities in the
great outdoors and truly enjoyed leading and actively participating
in the summer camp for many years. The D.R. Horton, Inc. Foundation
was created to provide financial and other assistance to employees
and their families who are victims of natural disasters, helping
take care of housing, meals and other personal needs following a
disaster. Also, numerous Company employees have experienced
individual acts of caring and kindness from Don over the years
without him seeking any attention or credit. This culture of family
and care for each other will be a longstanding legacy of Don’s
commitment to the Company and its employees.
Don, age 74, has served as Chairman of D.R. Horton, Inc. since
it was formed in July 1991, and held the roles of President and CEO
from July 1991 until November 1998. He was involved in the real
estate and homebuilding industries since 1972, and was the founder,
sole or principal stockholder, director and president of each of
D.R. Horton’s predecessor companies, which date from 1978 to
1990.
Don is survived by his wife Marty and their children Ryan
(Stacy) and Reagan (Michelle) and four grandchildren: Douglas,
Madeline, Derek and Shelby. Details on a public memorial event to
honor Don’s longstanding legacy will be made available at a later
date.
About D.R. Horton, Inc.
D.R. Horton, Inc., America’s Builder, has been the largest
homebuilder by volume in the United States since 2002 and has
closed more than 1,000,000 homes in its over 45-year history. D.R.
Horton has operations in 119 markets in 33 states across the United
States and is engaged in the construction and sale of high-quality
homes through its diverse product portfolio with sales prices
generally ranging from $200,000 to over $1,000,000. The Company
also constructs and sells both single-family and multi-family
rental properties. During the twelve-month period ended March 31,
2024, D.R. Horton closed 87,801 homes in its homebuilding
operations, in addition to 6,248 single-family rental homes and
2,536 multi-family rental units in its rental operations. D.R.
Horton also provides mortgage financing, title services and
insurance agency services for its homebuyers and is the
majority-owner of Forestar Group Inc., a publicly traded national
residential lot development company.
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Jessica Hansen SVP - Communications
MediaRelations@drhorton.com
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