Walter Investment Management Corp. (NYSE: WAC), parent company to Reverse Mortgage Solutions and Security One Lending, today announced the planned departure of its Chief Financial Officer and Executive Vice President Charles Cauthen.
Cauthen will depart from his position in early 2014, in conjunction with the company’s release of its annual report in March. He has been with the company since 2000, having joined the company under its parent, Water Energy.
“Charles has been a significant part of Walter Investment’s transformation starting with his time with Walter Energy,” said Walter Chairman and CEO Mark O’Brien. “Having been with Walter Investment from the beginning, Charles’ broad range of operational, financial and industry experience has been instrumental in the growth and development of our company. We are grateful for his dedication and his contributions to the Company’s success.”
Walter has not named a successor, but noted in a company press release it will being a search immediately with plans for Cauthen to assist in the transition to new CFO.
Walter has been an active member of the reverse mortgage business since its 2012 acquisition of Reverse Mortgage Solutions and subsequent purchase of Security One Lending earlier this year.
Written by Elizabeth Ecker