With just a year on the job, the head of Walter Investment Management Corp.’s operating subsidiary is departing — continuing a series of executive shakeups at the company.
David C. Schneider was named president of Ditech Financial LLC’s servicing business in September 2015 when the unit was created from the consolidation of two subsidiaries.
Then in February 2016, Schneider additionally took over the role of the president of Ditech’s origination business. He filled a vacancy created from the departure of Patti Cook.
On Wednesday, Schneider, himself, left the company, according to a filing with the Securities and Exchange Commission.
“Mr. Schneider’s departure is related to a broader plan to realign the company’s management structure,” the SEC filing stated. “The new structure is designed to flatten the organization, with the intent of making it leaner and more effective.”
Managers who reported to Schneider will now report directly to Walter Investment Management Chief Executive Officer Anthony N. Renzi.
The Tampa, Florida-based company has seen significant turnover among its senior executive ranks since last year.
Denmar J. Dixon was replaced Mark J. O’Brien as CEO and president in October 2015, while Daniel G. Beltzman replaced O’Brien as chairman in March 2016.
George M. Awad then replaced Dixon as interim CEO in June, while the company disclosed in August that Renzi was taking over the CEO slot.
