According to the company, Ashmore plans to pursue other interests, both personal and professional.
Ashmore informed the company that he does not seek to renew his employment agreement and intends to step down from his roles effective Dec. 31. His current employment agreement expires on that date.
Ashmore began serving as president of Impac Mortgage in 1995. The company conducted its initial public offering during that year. He joined the board as a director in 1997. In addition to these roles, he served as COO for more than 10 years.
“I want to thank Bill for his tremendous contributions to Impac for over 20 years.” Impac CEO Joseph Tomkinson said. “We've benefitted greatly from his strategic insight, asset liability management, and business expertise in the continuously evolving mortgage industry, and wish him all the best."
“It has been an honor to serve Impac as its president and work with my friend, Joe Tomkinson, the chairman and CEO of Impac,” said Ashmore. “I have worked with a great team over the years and I am proud of the resilience of the Impac management team, to survive the financial crisis and subsequently return to profitability. I’m excited to tackle my next opportunity as I transition from my current executive management position at Impac.”
Ashmore is working with the company on a transition of his duties and responsibilities.
William Ashmore is stepping down as president and board member of Impac Mortgage Holdings, the company has disclosed.