- Push-out Score determined
- After almost 23 years in the position
- Keith Jezek taking over
- Flynn will remain as Chairman at Open Lending
- Flynn said 78 words
(exechange) — Austin, Texas, October 6, 2022 — John Flynn, chief executive of Open Lending, leaves his position. As announced by Open Lending Corp. in a news release and in a regulatory filing published on Thursday, October 6, 2022, John J. Flynn leaves his post as chief executive officer at the provider of loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders, after almost 23 years in the role, effective immediately.
It is the end of an era.
John Flynn’s duties as CEO will be taken over by Keith A. Jezek, most recently President, Retail Solutions Group at Cox Automotive group.
The fact that John Flynn’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
John Flynn’s move coincides with a management shake-up also involving the position of President and Chief Operating Officer.
“It’s an exciting time”
Open Lending did not give an explicit reason for John Flynn’s departure from the CEO post. Flynn said: “It’s an exciting time for Open Lending, and I’m confident that this leadership transition will prepare the Company for its next era of growth.”
Flynn will remain as Chairman at Open Lending
“After 21 years at Open Lending, and more than four decades within the industry, co-founder John Flynn will retire as CEO and continue his role as Chairman of the Board of Directors, with Jezek assuming the responsibilities of CEO immediately,” Open Lending said.
“Retire”
Open Lending said: “John J. Flynn retired from his position as Chief Executive Officer.”
Share price decline since October 2021
The announcement follows a decline in Open Lending Corp.’s share price of 76% since October 2021.
In the position of CEO since 2000
John Flynn became CEO of the Company in 2000.
John Flynn has served as the Chief Executive Officer of Open Lending since April 2000 and as a member of its Board of Managers since 2000.
Flynn previously served as Chief Executive Officer at Washington Gas Light Federal Credit Union in Springfield, VA from 1983 to 1994, and as Senior Vice President of Sales and Marketing for Good2cu.com, LLC from 1999 to 2000.
In addition, Flynn formerly led marketing at The Equitable (Equitable Holdings, Inc.) from 1997 to 1999, where he spearheaded the design and execution of the firm’s national marketing program for the credit union industry.
Flynn is the Co-founder of Objective Advisors, Inc., a registered investment advisory firm dedicated to providing objective financial management services exclusively to credit unions and banks nationwide, where he served as a Board Member from 1995 to 2018; Co-founder of The Finest Federal Credit Union, which serves the police and law enforcement agencies of New York City, where he served as Advisor from 2014 to 2019.
Flynn holds a Bachelor of Arts degree in Accounting from Bloomsburg University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding John Flynn’s move on a scale of 0 to 10.
exechange reached out to Open Lending and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 41.2022 ($).