FORT WASHINGTON, PA.,
Feb. 2, 2018 /PRNewswire/ -- Walter
Investment Management Corp. ("Walter" or the "Company") (NYSE:
WAC.BC) today announced that Anthony N.
Renzi, the Company's Chief Executive Officer and President,
will be leaving the Company. To ensure a smooth transition, Mr.
Renzi intends to stay with the Company and continue to serve as
Chief Executive Officer and President until a permanent or interim
successor is named. The Company expects to retain an executive
search firm to identify and evaluate internal and external
candidates to succeed Mr. Renzi.
George M. Awad, Chairman of
Walter's Board of Directors, said, "Under Tony's leadership, Walter
has transformed into a more focused and efficient Company that is
well positioned to build on the strengths of its core business to
drive future growth and success. With the upcoming completion of
our court-supervised financial restructuring efforts, we believe
that this is the right time to transition leadership and prepare
for Walter's next chapter. We are focused on identifying a strong
leader who shares our commitment to creating value by continuously
enhancing the customer experience. We thank Tony and appreciate his
continued support as the Board conducts a thoughtful and
comprehensive search for Walter's next CEO."
Mr. Renzi said, "I am proud of all that we have accomplished to
transform Walter by focusing on our core business, reducing costs
and undertaking a financial restructuring process that will enable
the Company to focus its resources on strengthening the areas that
are critical to its success. I am confident that our next CEO and
the rest of the Company's outstanding employees will continue to
build on the important progress we have made and will advance our
mission of caring for our customers throughout the homeownership
journey. I look forward to continuing to work with my colleagues to
ensure a seamless transition."
As previously announced on January 17,
2018, the United States Bankruptcy Court for the Southern
District of New York (the "Court")
recently approved the Company's prepackaged financial restructuring
plan (the "Prepackaged Plan"). The Company is continuing to work
towards satisfying all conditions precedent to the Prepackaged Plan
and currently expects that such conditions will be satisfied and to
emerge from Chapter 11 in the near-term.
About Walter Investment Management Corp.
Walter Investment Management Corp. is an independent
servicer and originator of mortgage loans and servicer of reverse
mortgage loans. Based in Fort Washington, Pennsylvania, the Company has approximately
4,100 employees and services a diverse loan portfolio. For more
information about Walter Investment Management Corp., please
visit the Company's website
at www.walterinvestment.com. The information on the
Company's website is not a part of this release.
Cautionary Statements Regarding Forward-Looking
Information
Certain statements in this press release constitute
"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, as amended. Statements that are not
historical fact are forward-looking statements. Certain of these
forward-looking statements can be identified by the use of words
such as "believes," "anticipates," "expects," "intends," "plans,"
"projects," "estimates," "assumes," "may," "should," "could,"
"would," "shall," "will," "seeks," "targets," "future," or other
similar expressions. Such forward-looking statements involve known
and unknown risks, uncertainties and other important factors, and
our actual results, performance or achievements could differ
materially from results, performance or achievements expressed in
these forward-looking statements. Such statements include, but are
not limited to, statements relating to the effective date of the
prepackaged plan and the Company's CEO search process.
These forward-looking statements are based on the Company's
current beliefs, intentions and expectations and are not guarantees
or indicative of future performance, nor should any conclusions be
drawn or assumptions be made as to any potential outcome of any
proposed transactions or senior executive changes the Company
announces, considers or seeks to implement. Important assumptions
and other important factors that could cause actual results to
differ materially from those forward-looking statements include,
but are not limited to, those factors, risks and uncertainties
described in more detail under the heading "Risk Factors" and
elsewhere in the Company's annual and quarterly reports, including
amendments thereto, and other filings with the Securities and
Exchange Commission.
Contact
Kimberly
Perez
SVP & Chief Accounting Officer
813.421.7694
investorrelations@walterinvestment.com
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SOURCE Walter Investment Management Corp.
