- After less than a year and a half in the position
- Praise, thanks and good wishes for Jezek
- Chuck Jehl taking over temporarily
- Search for a successor
(exechange) — Austin, Texas, March 25, 2024 — Keith Jezek, 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 Monday, March 25, 2024, Keith A. Jezek has left his post as chief executive officer at the specialist in lending enablement and risk analytics products for financial institutions, after less than a year and a half in the role, effective March 22, 2024.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Open Lending will undertake a search for a successor.
Keith Jezek’s duties as CEO will be taken over temporarily by Charles D. (Chuck) Jehl, previously Chief Financial Officer at Open Lending Corp., as Interim Chief Executive Officer.
No reason given
In the announcement, Open Lending did not explicitly explain the reason for the move.
Precise information regarding Keith Jezek’s future plans was not immediately available.
“Stepping down/terminated employment”
Open Lending said: “Keith Jezek was stepping down as Open Lending’s CEO and as a member of its Board of Directors.”
Open Lending further said: “On March 22, 2024, Keith A. Jezek, the Chief Executive Officer of Open Lending Corporation …, terminated employment with the Company and resigned from the Board of Directors of the Company …, effective as of March 22, 2024.”
Share price decline since October 2022
The announcement follows a decline in Open Lending Corp.’s share price of 10% since October 2022. October 2022 is the month in which Jezek’s tenure as CEO began.
In the position of CEO since 2022
Keith Jezek became CEO of the Company in 2022.
Keith A. Jezek has served on the Company’s board of directors since October 2022.
Jezek also served as Chief Executive Officer of Open Lending since October 2022.
Prior to joining Open Lending, Jezek was President, Retail & Media Solutions at Cox Automotive Inc. from 2018 until 2022.
Jezek held several other positions during his tenure at Cox Automotive Inc., including President, Retail Solutions from 2016 until 2018 and Division President, Software from 2012 until 2015.
Jezek was previously a member of Open Lending’s board of directors from 2012 through 2020 and served as an advisor to the board of directors following the Business Combination.
No statement by Keith Jezek
In the release announcing his departure as CEO of Open Lending Corp., Keith Jezek received praise, thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Keith Jezek.
The above text is an excerpt from the exechange report 14.2024 ($), publication date April 1, 2024.