After sitting in the position for only eight months, Denmar Dixon will resign as CEO and vice chairman of Walter Investment Management Corp. and will instead help the company in an advisory role.
Dixon took on the role of CEO last October when Mark O’Brien, the company's former chairman and CEO, announced he was retiring.
"We thank Denmar for his hard work, dedication and years of service," said Daniel Beltzman, who will also step down from his role as chairman but remain on the board of directors.
"Denmar's leadership was instrumental in Walter's significant growth, positioning in the market and in assembling the quality companies that comprise the platform today. Denmar is a true believer in the value and prospects for the Company and he has helped us set the stage for our transformation. "
Effective June 30, George Awad will fill in as executive chairman and interim CEO as the board retains an outside firm to assist with the permanent CEO search.
"As we continue with our transformation of the company, we believe Walter will benefit greatly from George's leadership," said Beltzman.
"We are fortunate to have an executive of George's caliber and experience join the team to guide Walter through the next stages of its transformation. George is a talented consumer finance leader with a proven track record for execution,” he added.
Awad brings a wealth of experience to the position and is a veteran consumer finance executive, with more than two decades of experience at General Electric and Citigroup.
He also held multiple leadership positions in Citibank including CEO of Global Consumer Bank in Europe Middle East and Africa.
"I see a tremendous opportunity at Walter. This company has a strong operating platform and a team of mission-driven people who want to make a difference in the lives of millions of Americans who haven't been served well by traditional banks,” said Awad.
“The road ahead will have challenges, but I believe if we accept these challenges and hold ourselves accountable for our performance, we can build a world-class, customer-focused company that ensures repeat business for recurring mortgage needs," Awad continued.