Ocwen Financial Chief Financial Officer Michael Bourque is leaving Ocwen for another financial services company, which is as of yet undisclosed.
According to an Ocwen filing with the Securities and Exchange Commission, Bourque will receive $125,000 upon leaving and an additional $50,000 to relocate from the Virgin Islands.
Bourque has served as Ocwen’s executive vice president and chief financial officer since June 2014.
Before coming to Ocwen, Bourque worked for General Electric for 15 years, spending time in financial leadership positions in GE’s industrial businesses and GE Capital. Just before coming to Ocwen, Bourque served as chief financial officer for GE Distributed Power.
Bourque will remain with the Ocwen until June 22 when his resignation takes effect. This the second loss in the C-suite Ocwen has sustained in a month-and-a-half.
Current President and CEO Ron Faris announced his resignation in April. Faris will be replaced by former PHH Corp. CEO Glen Messina, who brings history from the pending Ocwen acquisition. Ocwen announced back in February that it plans to acquire Messina's former company for $360 million. Messina will take over sometime before the end of this year.
“We would like to thank Michael for his financial leadership and his many contributions over the last four years,” Faris said in a statement.
“While at Ocwen, Michael has focused his efforts on ensuring the company is in solid financial standing and is well positioned for future success. We respect Michael’s personal decision, and we wish him the best in his new position,” Faris added.
Borque's successor has not been named yet.