Ocwen said that combining the chair of the board and CEO positions, along with appointing a lead independent director, is the appropriate structure for the company as it 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,” the nonbank said in its official statement.
Commenting on the move, Caldwell said his decision to step down as chair follows ongoing discussions 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,” he continued. “We are fortunate to have someone with his level of institutional and industry knowledge assume the role.
“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.”