Anthony Hsieh nominates Steven Ozonian for election to board of LoanDepot

Anthony Hsieh, the Founder of LoanDepot, who holds over 40% of the economic interest and approximately 57% of the combined voting power of the company, announced in a letter to loanDepot stockholders that he has nominated Steven Ozonian for election to the company’s Board at the company’s 2023 Annual Meeting of Stockholders. Hsieh intends to vote all of his shares in favor of Ozonian. Hsieh has engaged with the Board over the last few months in an effort to persuade members of the urgent need for board refreshment to address the challenges the company faces in this economic environment. Because the Board has not been receptive to these efforts, Hsieh has exercised his right as a stockholder to unilaterally nominate Ozonian for election at the next Annual Meeting of Stockholders in place of one of the company’s existing incumbent directors. Hsieh explained his reasoning to fellow stockholders writing, "As leaders of this company and stewards of stockholder capital, the Board must always challenge itself to be a dynamic center of passionate, informed and relevant perspectives to help guide the company to future success. Mr. Ozonian’s experience and perspective will be additive to the loanDepot Board of Directors at this critical juncture for the company. The recent rise in rates and challenging macroeconomic environment make Mr. Ozonian’s potential appointment all the more urgent."