Rocket Companies Makes Executive Leadership Changes: What Investors Need To Know

Fintech platform company Rocket Companies Inc. RKT announced Monday two major leadership changes, including the retirement of CFO Julie Booth.

What Happened: Booth, who is also Rocket treasurer, joined the company 19 years ago and has served as CFO since 2005.

She will remain in her current role until Nov. 15. Afterwards, she will transition to an advisory role with the company.

The company's current Chief Accounting Officer Brian Brown is set to take over the role.

"During her time as CFO, Julie has been a tremendous leader in our organization, helping guide our company through significant growth and expansion, culminating with our IPO in 2020," Rocket CEO Jay Farner said.

"Even more impressive is the tremendous team Julie has built and the deep care she has shown for everyone in our company, including Brian, who has already proven himself to be an incredible financial mind who will help lead us well into the future."

Brown, who joined Rocket in 2014, leads the company's accounting, finance, treasury and procurement teams. He has also been heavily involved in Rocket's investor relations efforts since its IPO in August 2020.

See Also: What 6 Analyst Ratings Have To Say About Rocket Companies

Angelo Vitale, General Counsel and Secretary of Detroit-based Rocket Companies, will also retire from his current role, effective Oct. 3. Vitale will transition to an "Of Counsel" position, effective immediately. Vitale previously served as CEO of Rocket Central and has also served as Rocket Mortgage's Executive Vice President, General Counsel and Corporate Secretary.

Tina V. John will assume the role of General Counsel and Secretary. John joined Rocket Companies in 2020 following its IPO and has worked closely with the Board of Directors since.

"Angelo has been an absolute pillar of this company for as long as I can remember. His wise counsel and passion for our business is legendary," Farner said.

"Tina has quickly proven herself to be a great legal expert and the obvious choice to fill Angelo's big shoes," he added.

RKT Price Action: Rocket Companies has a 52-week high of $15.26 and a 52-week low of $6.23. The stock was up 1.03% at $6.39 Monday morning, according to Benzinga Pro.

Photo: Erik Drost from Flickr.