Altisource Asset Management CEO Jason Kopcak resigns; interim CEO named; restructuring underway

Altisource Asset Management Corp

Jason Kopcak resigns as CEO; Danya Sawyer appointed Interim CEO effective immediately.
Board completed comprehensive review of mortgage platform; cost-cutting initiatives detailed.
Employee right-sizing, Tampa facility shuttered, third-party professional services reduced.
Cash and cash equivalents $16.5M; credit lines reduced to $20.2M; loan portfolio $37.1M UPB.
Company maintains commitment to mortgage space; restructuring aims for sustainable operations.

item 5.02 item 9.01

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Departed

Jason Kopack

Chief Executive Officer

Altisource Asset Management Corp

Effective: 2023-08-30
Filed: August 30, 2023, 7:59 PM ET

On August 30, 2023 , Altisource Asset Management Corporation announced the resignation of Chief Executive Officer, Jason Kopack

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jason Kopack resigned as Chief Executive Officer at Altisource Asset Management Corp.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On August 30, 2023 , Altisource Asset Management Corporation announced the resignation of Chief Executive Officer, Jason Kopack

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Source: SEC EDGAR

accession 0001555074-23-000034

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