Rocket Companies Announces Executive Changes, Promotions To Start New Year

Detroit-based Rocket Companies RKT has begun 2022 with a number of leadership changes and promotions.

What Happened: Jay Farner, vice chairman and CEO of Rocket Companies and the former CEO of Rocket Mortgage, is taking on the additional title of CEO for Rocket Central, the centralized hub for the firm's fintech platform.

Farner will retain his role at Rocket Companies and will replace Angelo Vitale, who will continue in his roles as general counsel and secretary of Rocket Companies.

Related Link: Why Rocket Companies Is A Fintech And E-Commerce Company, According To CEO Jay Farner

What Else Happened: The company also announced the promotion of Bob Walters to CEO of Rocket Mortgage. He was previously the president and chief operating officer for Rocket Companies and Rocket Mortgage and will retain his position at Rocket Companies.

Tim Birkmeier, the company's chief revenue officer, was appointed president of Rocket Mortgage.

“Rocket Mortgage is in excellent hands with Bob and Tim, who have been instrumental drivers in the company's growth,” said Farner. “We have worked side-by-side for decades and will continue to do so.”

Rocket Companies ended 2021 with the acquisition of the personal finance app Truebill for $1.275 billion. Farner stated at the time that Truebill will allow Rocket Companies to keep people engaged with the company's funnel even when they're not in need of mortgage assistance.

Photo: Erik Drost / Flickr Creative Commons.