Impac Mortgage Holdings, Inc. Announces Leadership Transition
November 01 2017 - 7:30PM
Impac Mortgage Holdings, Inc. (NYSE American:IMH) (the “Company” or
“Impac”) announced today that William S. Ashmore has informed the
Company of his intention not to seek renewal his employment
agreement and to step down as President and as a member of the
Company’s Board of Directors effective December 31, 2017, the date
on which the term of his current employment agreement
expires. Mr. Ashmore has been President at Impac since 1995
at the time of its initial public offering and a director since
1997. He has also served as Chief Operating Officer for over
10 years. Mr. Ashmore intends to pursue other interests both
personal and professional.
Commenting on the announcement, Joseph R. Tomkinson, Chief
Executive Officer, said, “I want to thank Bill for his tremendous
contributions to Impac for over 20 years. 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."
The Company, along with Mr. Ashmore, are working on a transition
of his duties and responsibilities to ensure a smooth operational
transition.
Mr. Ashmore said, “It has been an honor to serve
Impac as its President and work with my friend, Joe Tomkinson, the
Chairman and CEO of Impac. 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.”
About the
CompanyImpac Mortgage Holdings, Inc. (IMH or
Impac) provides innovative mortgage lending and warehouse lending
solutions, as well as real estate solutions that address the
challenges of today’s economic environment. Impac’s
operations include mortgage and warehouse lending, servicing,
portfolio loss mitigation and real estate services as well as the
management of the securitized long-term mortgage portfolio, which
includes the residual interests in securitizations.
For additional information, questions or comments, please call
Justin Moisio, VP Business Development & Investor Relations at
(949) 475-3988 or email Justin.Moisio@ImpacMail.com. Web site:
http://ir.impaccompanies.com or www.impaccompanies.com
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