internal
Paul J. Romanowski
President and Chief Executive Officer
Executive
2 yr
3 reports
Leadership change Paul J. Romanowski was promoted to CEO (from EVP and Co-COO) · DEF 14A, 2024-12-13
D.R. Horton, Inc. ·DHI
CEO runs operations with only three named executive reports
Engineering & Construction · Fortune #123 · Functional structure · 15K employees · Arlington, TX
View as of:
3
CEO span
↓ tighter than peers (avg 7)
0.75
Avg span
tight
3
Max depth
3 levels
5.3 yr
Avg tenure
stable vs FY2024
75%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-09-30 · 10-K
Revenue
$34.3B
Net income
$3.6B
Total assets
$35.5B
Shares out
292M
Sourced from D.R. Horton, Inc. DEF 14A · filed 2025-12-10 ↗ View on SEC
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D.R. Horton, Inc. organizational chart
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D.R. Horton operates with an unusually lean named executive team: only three executives report directly to the CEO. This page maps its functional leadership structure, profiles top officers, analyzes governance metrics, and compares Horton’s model with major homebuilding peers.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Paul J. Romanowski moved into President and Chief Executive Officer
Promoted to CEO effective October 2023.
Source · See change logScenario views in the chart
- Add Chief AI Officer Introduce a Chief AI Officer reporting to the CEO to coordinate data, automation, and construction technology strategy.
- Shift more functions under COO Move selected corporate functions under the COO to reduce CEO span and formalize operational control.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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- Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.
The people
Who's running this
4 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
David V. Auld
Executive Chairman
Executive
3 yr
0 reports
internal
Michael J. Murray
Executive Vice President and Chief Operating Officer
Operations
4 yr
0 reports
Bill W. Wheat
Executive Vice President and Chief Financial Officer
Finance
7 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 4 named executive officers disclosed. Bar length scales with total compensation.
David V. Auld $17.9M
- Base salary
- $700K
- Stock awards
- $14.57M
- Non-equity incentive
- $2.37M
- Pension change
- $216K
- Other
- $80K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Paul J. Romanowski $25.1M
- Base salary
- $700K
- Stock awards
- $20.68M
- Non-equity incentive
- $3.55M
- Pension change
- $108K
- Other
- $80K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Michael J. Murray $21.1M
- Base salary
- $500K
- Stock awards
- $17.44M
- Non-equity incentive
- $2.96M
- Pension change
- $91K
- Other
- $60K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Bill W. Wheat $16.1M
- Base salary
- $500K
- Stock awards
- $13.02M
- Non-equity incentive
- $2.37M
- Pension change
- $127K
- Other
- $60K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The businesses
How D.R. Horton, Inc. divides the work
3 divisions report into the group CEO. Tile size scales with estimated headcount.
Operations
11K employees
Executive Vice President and Chief Operating Officer (Michael J. Murray)
Oversees nationwide homebuilding, rental, and field operations across regions.
Finance
800 employees
Executive Vice President and Chief Financial Officer (Bill W. Wheat)
Manages financial reporting, capital allocation, treasury, and risk.
Executive & Governance
50 employees
President and Chief Executive Officer (Paul J. Romanowski)
Sets corporate strategy, oversees executives, and interfaces with the Board.
The thesis
Why this org is unusual
The most distinctive feature of D.R.
Horton’s structure is how few named executives report directly to the CEO despite its scale. Paul Romanowski has only three publicly named executive direct reports: the Executive Chairman, COO, and CFO. This reflects a highly centralized, functionally driven leadership model.
Operational authority is pushed deep into regional and divisional structures rather than layered corporate leadership. The absence of numerous named C-suite or EVP roles suggests that many operational leaders run substantial businesses without corporate officer titles, consistent with D.R. Horton’s long-standing decentralized field-operations philosophy.
- Only four named executive officers
- Highly decentralized field operations
- No disclosed CAIO or CMO
The comparison
How D.R. Horton, Inc. stacks up
Compared with peers like Lennar and PulteGroup, D.R. Horton discloses a much smaller named executive team. Competitors typically list additional presidents, regional CEOs, or functional chiefs reporting to the CEO. Horton’s lean disclosure aligns with its culture of empowering regional divisions while keeping corporate …
C-suite size
Reporting depth
Avg C-suite tenure
Has COO / Has CAIO
D.R. Horton, Inc. ✓ COO — no CAIO
Current signals
What changed recently
The most significant change was Paul Romanowski’s promotion to CEO in October 2023, followed by David Auld’s appointment as Executive Chairman in 2024.
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2025-12-10
- CEO
- Paul J. Romanowski
- CEO span
- 3
- C-suite
- 4
- Avg tenure
- 5.3 yr
Lean executive team with only four named executive officers.
Named executive officers (4)
- Paul J. Romanowski - President and CEO since 2023
- David V. Auld - Executive Chairman since 2024
- Michael J. Murray - EVP and COO since 2021
- Bill W. Wheat - EVP and CFO since 2017
FY2024
DEF 14A filed 2024-12-13
- CEO
- Paul J. Romanowski
- CEO span
- 3
- C-suite
- 4
- Avg tenure
- 4.8 yr
CEO succession completed in October 2023.
Named executive officers (4)
- Paul J. Romanowski - President and CEO since 2023
- David V. Auld - Executive Vice Chair since 2023
- Michael J. Murray - EVP and COO since 2021
- Bill W. Wheat - EVP and CFO since 2017
FY2023
DEF 14A filed 2023-12-12
- CEO
- David V. Auld
- CEO span
- 3
- C-suite
- 4
- Avg tenure
- 6.1 yr
Co-COO model in place prior to CEO transition.
Named executive officers (4)
- David V. Auld - President and CEO since 2014
- Paul J. Romanowski - EVP and Co-COO since 2021
- Michael J. Murray - EVP and Co-COO since 2021
- Bill W. Wheat - EVP and CFO since 2017
Year-over-year changes
CEO succession completed with Romanowski promoted, while overall structure remained lean.
- CEO span: 3 → 3
- C-suite size: 4 → 4
- Avg tenure: 6.1 → 4.8 yr
- promoted Paul J. Romanowski - CEO (was EVP and Co-COO) (DEF 14A, 2024-12-13)
Board leadership retitled following founder transition; management structure unchanged.
- CEO span: 3 → 3
- C-suite size: 4 → 4
- Avg tenure: 4.8 → 5.3 yr
- retitled David V. Auld - Executive Chairman (was Executive Vice Chair) (DEF 14A, 2025-12-10)
Frequently Asked Questions
Who is the CEO of D.R. Horton?
Paul J. Romanowski has served as President and Chief Executive Officer since October 2023.
What type of organizational structure does D.R. Horton use?
D.R. Horton uses a functional corporate structure with highly decentralized regional operations.
How many direct reports does D.R. Horton’s CEO have?
The CEO has three publicly named executive direct reports.
How has D.R. Horton’s leadership changed recently?
Paul Romanowski was promoted to CEO in October 2023, and David Auld became Executive Chairman in 2024.
Does D.R. Horton have a COO?
Yes. Michael J. Murray serves as Executive Vice President and Chief Operating Officer.
Sources
- Company Proxy Statement, Dec 2024
- SEC EDGAR: D.R. Horton, Inc. DEF 14A Proxy Statement
- SEC EDGAR: D.R. Horton, Inc. 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). D.R. Horton, Inc. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/d-r-horton/MLA 9th
"D.R. Horton, Inc. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/d-r-horton/. Accessed .Chicago 17
Creately. "D.R. Horton, Inc. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/d-r-horton/.Original SEC source View on SEC ↗
D.R. Horton, Inc.. DEF 14A. Filed 2025-12-10. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/882184/000088218425000114/dhi-20251210.htmPermanent URL: https://creately.com/org-chart/fortune-500/d-r-horton/ · last updated 2026-04-01