Ocwen Financial President and CEO Glen Messina Appointed as Board Chair
23 Januar 2023 - 10:15PM
Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”),
a leading non-bank mortgage servicer and originator, today
announced that its Board of Directors (the “Board”) has unanimously
elected
Glen A. Messina as Chair of the Board,
effective January 23, 2023. Mr. Messina will continue to serve as
President and Chief Executive Officer of Ocwen, a position he has
held, along with serving on the Board as a director, since October
2018.
Mr. Messina succeeds Phyllis R.
Caldwell, who has successfully served as Chair since March
2016 and as a director since January 2015. Ms. Caldwell will remain
on the Board as an independent director and intends to stand for
re-election at the next Annual meeting.
In accordance with the Company’s Corporate
Governance Guidelines and to provide effective oversight and
independence of the Board, the Board appointed Kevin
Stein as Lead Independent Director. Mr. Stein has served
as an independent director on Ocwen’s Board since February
2019.
The Board has determined that combining the Chair
of the Board and Chief Executive Officer positions, along with
appointing a Lead Independent Director, is the appropriate
structure for the Company at this time and helps provide strong and
consistent leadership for the management team and its Board. The
Board believes that Mr. Messina’s knowledge and background with the
Company, deep industry experience, demonstrated leadership
capability and track record of delivering results benefits Ocwen’s
shareholders, customers and employees and uniquely positions him to
lead the Board and continue to oversee the Company’s strategic
initiatives.
“I am honored to have served as Chair over the past
seven years and in particular during a pivotal time in Ocwen’s
history as we transformed the Company into a balanced and
diversified mortgage business with an unwavering focus on
operational execution and the customer,” said Phyllis R. Caldwell,
Chair of the Board of Directors. “My decision to step down as Chair
follows ongoing discussion with the Board focused on balancing the
needs of maintaining continuity and succession planning. Glen has
developed a tremendous track record at Ocwen and our decision to
have him assume the role of Chair reflects the confidence and trust
we have in him, as well as the entire Executive Leadership Team. We
are fortunate to have someone with his level of institutional and
industry knowledge assume the role. I look forward to continuing to
work alongside Glen and the entire Board of Directors to continue
building on our successes and maximizing value for our
shareholders.”
Caldwell continued, “I want to congratulate Kevin
on his new role as Lead Independent Director. Kevin’s track record
as a Board member and his extensive background in mortgage and
investment banking make him the ideal person to serve in this role.
I am confident he will continue doing an outstanding job supporting
and overseeing the strategic vision of the Company, while providing
effective oversight and leadership to the Board.”
“On behalf of the Board of Directors, I would like
to thank Phyllis for her many contributions and dedication to the
Company as Board Chair. Ocwen has benefited tremendously from her
deep expertise, decisive leadership, integrity and passion for what
we do, and I am grateful she will continue serving on our Board,”
said Mr. Messina. “I look forward to continuing to work with our
highly skilled and dedicated Board to execute on our strategic
priorities. I believe the strength of our balanced and diversified
business model, focus on cost leadership, quality and breadth of
capabilities and our talented global team position us well to
perform through market cycles and deliver value to our
shareholders, customers and employees.”
About Ocwen Financial
Corporation
Ocwen Financial Corporation (NYSE: OCN) is a
leading non-bank mortgage servicer and originator providing
solutions through its primary brands, PHH Mortgage and Liberty
Reverse Mortgage. PHH Mortgage is one of the largest servicers in
the country, focused on delivering a variety of servicing and
lending programs. Liberty is one of the nation’s largest reverse
mortgage lenders dedicated to education and providing loans that
help customers meet their personal and financial needs. We are
headquartered in West Palm Beach, Florida, with offices and
operations in the United States, the U.S. Virgin Islands, India and
the Philippines, and have been serving our customers since 1988.
For additional information, please visit our website
(www.ocwen.com).
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements may be
identified by a reference to a future period or by the use of
forward-looking terminology. Forward-looking statements are
typically identified by words such as “expect”, “believe”,
“foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”,
“plan” “target” and “project” or conditional verbs such as “will”,
“may”, “should”, “could” or “would” or the negative of these terms,
although not all forward-looking statements contain these words,
and includes statements in this press release regarding the
expected future contributions of our Chief Executive Officer and
Board of Directors to our organization and our ability to execute
on business priorities, deliver financial outcomes, and create
shareholder value.
Forward-looking statements involve a number of
assumptions, risks and uncertainties that could cause actual
results to differ materially. In the past, actual results have
differed from those suggested by forward looking statements and
this may happen again. Important factors that could cause actual
results to differ materially from those suggested by the
forward-looking statements include, but are not limited to, changes
in market conditions, the industry in which we operate, and our
business, the actions of governmental entities and regulators,
developments in our litigation matters, and other risks and
uncertainties detailed in our reports and filings with the SEC,
including our annual report on Form 10-K for the year ended
December 31, 2021 and any current report or quarterly report filed
with the SEC since such date. Anyone wishing to understand Ocwen’s
business should review our SEC filings. Our forward-looking
statements speak only as of the date they are made and, we disclaim
any obligation to update or revise forward-looking statements
whether as a result of new information, future events or
otherwise.
FOR FURTHER INFORMATION
CONTACT:
Dico AkseraylianT: (856) 917-0066E:
mediarelations@ocwen.com
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