No Change to Guidance for Second Quarter or Full Year 2018
PLEASANTON, Calif. – Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, announced today that Matthew LaVay, Executive Vice President and Chief Financial Officer (CFO), is leaving the company effective June 15, 2018 for personal reasons. There are no issues involving the company’s financial results, internal controls or financial reporting procedures that led to Mr. LaVay’s departure. The company also announced that there is no change to its financial guidance for the second quarter and full year 2018 which it first provided when it reported its first quarter earnings on April 26, 2018.
The company has commenced an executive search process for a successor.
Popi Heron, Vice President and Corporate Controller is assuming the role of interim CFO. Ms. Heron has more than 26 years of finance and accounting experience. She has served as the company’s Vice President and Corporate Controller since 2016. Prior to joining the company, Ms. Heron served as the Corporate Controller and Senior Director, Finance for GoPro, Inc. for over four years.
Additionally, Ed Luce, the company’s former CFO, is joining the company as an advisor to support the company’s finance and accounting organization and assist in its search for a successor.
“We have a strong bench of talent in our finance organization and are pleased to have Popi lead our financial operations on an interim basis to ensure a smooth transition as we conduct a search for our next CFO,” stated Jonathan Corr, President & CEO. “We thank Matt for his contributions to Ellie Mae over the last six years.”
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com to learn more.