Rocket Mortgage CEO to retire - successor named

It's a major executive shake-up

Rocket Mortgage CEO to retire - successor named

Rocket Companies has announced a new chief executive officer.

Varun Krishna will take over the position full-time, succeeding Bill Emerson, who has served as interim CEO since June. Emerson will remain on the group’s board of directors and continue in his interim role until Krishna joins the company on September 5.

Krishna brings over two decades of experience working for global fintech companies, most recently as EVP and general manager of Intuit’s Consumer Group. Before this role, he served in a variety of leadership roles within the TurboTax and Mint businesses. His 20-year career also includes time spent at PayPal, Groupon, BetterWorks, and Microsoft.

“Varun is a visionary leader with a proven track record of helping consumers achieve financial freedom. Throughout his career, he has delivered innovative, technology-driven client experiences for complex personal transactions in large, fragmented markets,” Rocket chairman Dan Gilbert said in a release. “Varun’s experience aligns perfectly with Rocket’s vision, making him the ideal person to drive growth, strong performance and operational excellence at Rocket. On behalf of the entire board and our team members, I welcome Varun as Rocket’s new CEO.

“We also thank Bill for his support in stepping up to serve as our interim chief executive. Having served as CEO of Rocket Mortgage, our flagship business, for 15 years, he is the right person to work alongside Varun going forward to ensure a seamless transition.”

Read more: How Rocket is aiming to boost broker confidence

“I am honored to join the Rocket Companies team,” Krishna commented. “Rocket has a rock-solid foundation and tremendous potential, with its comprehensive ecosystem and industry-renowned technology, strong brand and award-winning client service. I look forward to working with Bill, the board and Rocket’s exceptionally talented team members to drive the company’s future success and create long-term value for our stakeholders.”

Rocket has also announced that Bob Walters, CEO of Rocket Mortgage and president and chief operating officer of Rocket Companies, plans to retire on September 5. Krishna will succeed Walters at that time as Rocket Mortgage CEO, and Emerson will assume the roles of president and COO for Rocket Companies.

“Since joining Rocket Mortgage more than 26 years ago, Bob has built an exceptional team and strengthened our foundation to enable the company to grow in any market,” Gilbert said. “His legacy as a leader and an expert in Capital Markets will leave a lasting impact on Rocket Mortgage, and I thank him for the years of dedication to our business.”

“For the last 27 years, I have been honored to work alongside many special and talented people who are also some of the very best anyone could ever hope to spend a career with,” Walters said. “I’m excited about the next chapter, but I will deeply miss the camaraderie, passion and excellence of everyone who has built Rocket into the great company that it is. I am proud to be able to leave with the business in great hands, knowing, as Dan Gilbert often reminds us, ‘Our best days are most certainly ahead.’“

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