Navient Corporation (NASDAQ:NAVI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On March 27, 2018, John K. Adams, a member of Navient Corporation’s (the “Company”) Board of Directors (the “Board”) and Chair of the Finance and Operations Committee, informed the Company that he would not stand for re-election to the Company’s Board at the upcoming annual meeting of shareholders scheduled for May 24, 2018. Mr. Adams’ decision is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Company expresses its appreciation to Mr. Adams for his service and leadership on the Board.
About Navient Corporation (NASDAQ:NAVI)
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies. Private Education Loans are education loans to students or their families that bear the full credit risk of the customer and any cosigner. The Company operates in three segments: FFELP Loans, Private Education Loans and Business Services. The Company services its own portfolio of education loans, as well as those owned by banks, credit unions, non-profit education lenders and ED. It also provides asset recovery services on its own portfolio, guaranty agencies, higher education institutions, ED and other federal clients, as well as states, courts and municipalities.