On December 5, 2016, Robert J. Fitzpatrick informed the Board of Directors of the Company (the “Board”) that he would be stepping down as a Director of the Company, effective December 5, 2016 to focus on his role at Institutional Mortgage Capital Canada, Inc.
Also on December 5, 2016, the Board appointed Rochelle R. Dobbs as a Director of the Company to fill the vacancy created by Mr. Fitzpatrick’s departure. Ms. Dobbs has been appointed to serve as a member of each of the Audit Committee and the Nomination/Governance Committee. William P. Wall, a current Director and member of the Audit Committee, has been appointed as Chair of the Audit Committee effective with the departure of Mr. Fitzpatrick, and Michael A. Eruzione, a current Director, has been appointed to serve as a member of the Compensation Committee and has ceased service as a member of the Nomination/Governance Committee.
Ms. Dobbs has over 26 years of commercial real estate finance experience. Since 2010, Ms. Dobbs has served as President of R Dobbs Partners LLC, a New York-based consulting firm focused on commercial real estate transactions including debt restructures, distressed debt purchases, and debt/equity originations. From 2000 to 2010, Ms. Dobbs was a Managing Director and Head of Real Estate Structured Finance (US) and Head of CMBS Capital Markets at Banc of America Merrill Lynch (“BAML”), a leading financial institution. At BAML, Ms. Dobbs was involved in the building of origination and servicing platforms designed to deliver a wide range of products and services to public and private clients in the commercial real estate industry. Prior to joining BAML, from 1995 to 2000, Ms. Dobbs was a Managing Director and Head of Loan Origination at Chase Manhattan Bank (“Chase”) where she managed a nationwide origination group for Chase’s newly created commercial mortgage backed security business. Ms. Dobbs was a member and served on the Board of Governors of Commercial Mortgage Securities Association. Ms. Dobbs holds a Bachelor of Arts – Economics from New York University in New York City.
There are no arrangements or understandings between Ms. Dobbs and any other person to which Ms. Dobbs was selected as a Director of the Company, nor are there any family relationships between Ms. Dobbs and any of the Company’s Directors or executive officers. There are no transactions between Ms. Dobbs and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
About ALTISOURCE RESIDENTIAL CORPORATION (NASDAQ:RESI) ALTISOURCE RESIDENTIAL CORPORATION (NASDAQ:RESI) Recent Trading Information ALTISOURCE RESIDENTIAL CORPORATION (NASDAQ:RESI) closed its last trading session at with 280,819 shares trading hands.
