Walter Investment Management Corp., which revealed that it will linger longer in bankruptcy than originally planned, has disclosed the upcoming departure of its chief executive officer.
In December 2017, the Fort Washington, Pennsylvania-based company
filed a voluntary chapter 11 bankruptcy petition in U.S. Bankruptcy Court for the Southern District of New York.
Walter Investment originally disclosed its bankruptcy plans in October. At the time, it said the reorganization process could potentially be done by the end of 2017 and likely no later than Jan. 31, 2018.
But a statement issued on Wednesday indicated that
that the prepackaged bankruptcy plan won’t be done until at least today.
On Friday, Walter Investment
announced that its CEO and president, Anthony N. Renzi, will be leaving the company.
Renzi took the job in
late 2016 after serving as chief operating officer, managing director and head of operations for Citigroup Inc.’s North America retail bank, commercial bank and CitiMortgage Inc.
“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 statement said. “The company expects to retain an executive search firm to identify and evaluate internal and external candidates to succeed Mr. Renzi.”
Today’s statement also indicated that Walter Investment expects to emerge from Chapter 11 Bankruptcy “in the near term”
