LPS CEO resigns due to health concerns
[Update 1: Adds background information] Jeffrey Carbiener stepped down from his position as the CEO of default services and technology provider Lender Processing Services (LPS) Wednesday, citing significant health-related reasons. Lee Kennedy, the executive chairman of the board at LPS, will take over as the interim chief as the company's board of directors searches for a replacement. Kennedy previously served as the CEO of Fidelity National Information Services, the former parent company of LPS. "I am proud of what this company has accomplished since its inception more than three years ago," Carbiener said. "LPS has clearly established itself as an industry leader and a key strategic partner for our customers, and I believe that LPS is well positioned for future success. Although I would very much like to continue leading our outstanding team, because of recent changes in my health, I have made the decision to resign." Carbiener has been CEO since the company’s spin off from Fidelity National Information Services in July 2008. Prior to LPS, Carbiener served as executive vice president and CFO for FIS, joining the company as a result of Fidelity's acquisition of Certegy in 2006. Carbiener spent 15 years at Certegy in various positions including group executive for Certegy Check Services starting in 1998. LPS provides mortgage loan processing, as well as mortgage-related information products and outsourcing services for financial institutions, mortgage lenders and real estate professionals. The company faces a slew of cases and investigations across the country challenging foreclosure procedures the firm says have been corrected. LPS recently signed consent orders with federal regulators to correct procedural problems. Carbiener agreed to serve as an adviser to Kennedy and the board of directors. Write to Jon Prior. Follow him on Twitter @JonAPrior.