Jay Farner Out As Rocket Companies CEO

Jay Farner Out As Rocket Companies CEO As Rumors Grow Louder Of Dan Gilbert Wanting To Sell The Company

Rocket Companies CEO Jay Farner is leaving Rocket on June 1st. However, the company says his departure is not because of any dispute with the board of directors. 

Rocket filed a statement with the SEC last week stating Farner informed the board on Feb. 8 “of his intent to retire. Farner is will also be resigning as vice chairman and member of the board effective immediately. Vice Chairman Bill Emerson immediately succeeded him.

The company made the official announcement Monday morning. Rocket executives also added that Emerson will serve as interim CEO.

The board has begun a search for a permanent CEO. As a result, they have retained an outside company to support its evaluation of internal and external candidates. However, they have not identified the outside company.

Emerson has been with Rocket and it’s predecessor Quicken Loans for 30 years. He served as CEO of Quicken Loans from 2002 through 2017. He also served as vice chairman of Rock Holdings. Rock Mortgage was the majority shareholder of Rocket Companies and former parent of Rocket Mortgage. — since 2017. 

Read More At Lender Meltdown