D.R. Horton CEO retires

D.R. Horton, Inc.'s vice chairman, president and CEO Donald Tomnitz has officially retired, having been succeeded by David Auld on Oct. 1.

Auld was previously serving as EVP and COO and has now taken on the formal title of president and CEO. He has been with the company since 1988, initially joining the team as division president, Orlando. He was promoted to region president for Florida and the Carolinas in 2005, and he was tapped to serve in his most recent role last November.

“David Auld has been an influential member of our D.R. Horton management team for over 25 years,” said chairman Donald Horton. “His outstanding performance as a division and region president and most recently as COO made him the obvious choice to succeed Don and continue building on our success. David is an effective leader and mentor who will help our company continue to grow and improve as the leading builder in the United States.”

Tomnitz had worked with D.R. Horton for 31 years, the last 15 of which were spent at the helm of the company.

He has also retired from the company's board of directors, though he will remain on board as a consultant for the next three years.

"I have been privileged to help build and lead the largest homebuilding company in the United States, and I am very proud of what our team across the United States has accomplished together during this time," Tomnitz said. "After over three decades with the company and 15 years as CEO, it’s time for a new generation of leadership at D.R. Horton, and the company is well-positioned for continued success. I am happy for David in his new role as CEO, and I look forward to continuing to work with him, D.R., and the rest of the management team in a consulting role."

D.R. Horton also announced the promotion of Michael Murray, SVP business development, to Auld's former role of EVP and COO.