LoanDepot announces Anthony Hsieh stepped down as Executive Chairman

loanDepot announced that Anthony Hsieh has stepped down as Executive Chairman, pursuant to a mutual agreement unanimously approved by LDI‘s Board of Directors. This action was in light of Hsieh’s decision to run a proxy contest against LDI through his nomination of a director candidate outside of the governance process overseen by the Board’s Nominating and Corporate Governance Committee. Hsieh will continue to serve as Chairman of the Company’s Board of Directors. Hsieh has submitted his nomination of a director candidate, Steven Ozonian. At Hsieh’s request, the Board’s Nominating and Corporate Governance Committee has interviewed Ozonian as part of its ongoing process for evaluating potential nominees for election at the Company’s 2023 annual meeting. Prior to the completion of the evaluation process, Hsieh informed the Board of his intent to use his voting power to replace sitting independent director Pamela Hughes Patenaude with Ozonian. Patenaude, who has served as a director since 2021, is a nationally recognized real estate and housing policy expert with a four-decade record of success as an executive in government, the nonprofit sector, and private industry. She is a Principal at Granite Housing Strategies and previously served as Deputy Secretary of the U.S. Department of Housing and Urban Development and before that as Director of Housing Policy for the Bipartisan Policy Center. She also was recently appointed Chair of the Home Builders Institute’s Board of Trustees and to the National Housing Conference’s Board of Governors and serves as a member of the Board of Directors of Habitat for Humanity and a member of the Board of Directors of the Bipartisan Policy Center.