In this Sept. 16, 2010 photo, DR Horton homes are advertised at a construction site in Milpitas, Calif. D.R. Horton Inc. said Friday, Nov. 12, 2010, its loss narrowed in its fiscal fourth quarter, as the homebuilder took fewer writedowns on the value of its properties. (AP Photo/Paul Sakuma)
Arlington-based D.R. Horton Inc. (NYSE:DHI) on Sept. 30 announced the promotion of Paul J. Romanowski to Executive Vice President and Co-Chief Operating Officer, effective Oct. 1. In this role, Romanowski will share oversight of the company’s homebuilding operations nationwide with Michael J. Murray, Executive Vice President and Co-COO.
Since the company introduced a COO role in 2013, its footprint has expanded from 78 markets in 27 states to 96 markets across 30 states today. During that same period, the company’s annual closings volume has more than tripled to over 81,000 homes closed expected in fiscal 2021, resulting in an increase in the company’s national market share from approximately 6% to nearly 10%.
“Paul has been an essential member of the D.R. Horton management team for over 20 years,” said Donald R. Horton, Chairman of the Board. “This internal promotion underscores the strength and depth of D.R. Horton’s leadership and will support the company’s continued expansion of our operations, volume growth and consolidation of market share across the country.”
Romanowski joined D.R. Horton in 1999 as Division President of the company’s South Florida division. In 2014, he was promoted to Region President overseeing all D.R. Horton homebuilding divisions in Florida and the Gulf Coast, which accounted for approximately 22% of the company’s homebuilding revenues and 24% of its homes closed in calendar 2020. In 2019, his oversight responsibilities were expanded to also include the company’s operations in five Mid-Atlantic states. Prior to joining D.R. Horton, Romanowski worked for Metrostudy and in land acquisition for another public homebuilder. He graduated from Butler University in 1992 with a Bachelor of Business Administration degree in Marketing.
“We welcome Paul to his new role as Co-COO,” said David V. Auld, President and CEO. “He has been instrumental in leading our Florida region for the past seven years, and his extensive experience in homebuilding operations will strengthen our executive team.”