Donald R. Horton, founder and chairman of the board of directors at the Arlington, Texas-headquartered homebuilder D.R. Horton Inc. (NYSE:DHI), passed away the age of 74.
Horton served as the company’s chairman since it was formed in July 1991, and he 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 back to 1978.
Horton took his company public in 1992, and today the company operates four brands – D.R. Horton, Emerald Homes, Express Homes, and Freedom Homes. Since 2002, D.R. Horton has been the nation’s largest homebuilder by volume, with home sales in 113 markets across 33 states.
David V. Auld, the company’s executive vice chairman, has been appointed to serve as executive chairman.
“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,” said Auld.
Horton is survived by his wife Marty and their children Ryan (Stacy) and Reagan (Michelle) and four grandchildren: Douglas, Madeline, Derek and Shelby.
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Sorry to hear of his passing. Condolences to his family!