loanDepot CEO Frank Martell to Step Down

Dow Jones03-06

By Sabela Ojea

LoanDepot is looking for a new chief executive as Frank Martell prepares to step down at the company's annual shareholder meeting on June 4.

The mortgage company on Thursday said that it plans to hire an executive search firm to identify a successor to Martell, who has headed loanDepot since 2021. If by the time Martell steps down the company hasn't appointed a replacement, Chairman Anthony Hsieh will serve as interim CEO.

Hsieh will rejoin the company's executive team as the executive chairman of Mortgage Originations, loanDepot said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 06, 2025 18:50 ET (23:50 GMT)

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