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Posted 13 February, 2023

Rocket Companies, Inc. appointed Bill Emerson as new CEO

NYSE:RKT appointed new Chief Executive Officer Bill Emerson in a 8-K filed on 13 February, 2023.


  On February 9, 2023, the Board appointed Bill Emerson as the Company's interim Chief Executive Officer, effective on the Transition Effective Date.  

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Overview of Rocket Companies, Inc.
Financial Services • Mortgages
Rocket Cos., Inc. engages in the provision of a suite of services related to homeownership and other personal financial transactions. It operates through the following segments: Direct to Consumer and Partner Network. The Direct to Consumer segment consists of performance marketing and direct engagement through the Rocket Mortgage App. The Partner Network Segment focuses on partnerships with premier consumer-focused organizations, brokers and mortgage professionals who leverage the platform and scale to provide mortgage solutions to clients. The company was founded by Daniel Gilbert in 1985 and is headquartered in Detroit, MI.
Market Cap
$25.1B
View Company Details
Rocket Companies, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers 


Retirement of Chief Executive Officer and Appointment of Interim Chief Executive Officer

On February 8, 2023, Jay Farner notified the Board of Directors (the "Board") of Rocket Companies, Inc. (the "Company") of his intent to retire as Chief Executive Officer of the Company, effective June 1, 2023 (the "Transition Effective Date"), and as Vice Chairman and member of the Board, effective immediately. On February 9, 2023, the Board appointed Bill Emerson as the Company's interim Chief Executive Officer, effective on the Transition Effective Date. Mr. Emerson will replace Mr. Farner on an interim basis. The Board has commenced a search for a permanent Chief Executive Officer and has retained a leading firm to support its evaluation of internal and external candidates.

In addition, on February 9, 2023, the Board, upon the recommendation of the Nominating and Governance Committee of the Board, elected Mr. Emerson as a Class I director, to fill the seat on the Board vacated by Mr. Farner and to serve for a term expiring at the Company's annual meeting of stockholders to be held in 2024 and until his successor is elected and qualified, subject to his earlier death, resignation, retirement, disqualification or removal. Mr. Farner's retirement from the Board was not because of a disagreement with the Company.


Mr. Emerson, age 60, currently serves as the Vice Chairman of Rock Holdings, Inc., the Company's majority stockholder, a position he has held since February 2017. Since August 2020, he has served as Vice Chairman of Bedrock, a Detroit-based full-service real estate firm specializing in acquiring, developing, leasing, financing and managing commercial and residential buildings. In both roles, he is responsible for leadership, growth and development of culture. From 2002-2017, Mr. Emerson was Chief Executive Officer of Rocket Mortgage, the Company's flagship business, a position he held for 15 years. Mr. Emerson is a member of the Board of Directors of Xenith, Inc., a football helmet company dedicated to advancing safety through innovation and education; the United Way of Southeast Michigan; Detroit Economic Club; Detroit Sports Organizing Committee; Housing Policy Council; Mortgage Bankers Association; National Football Foundation; Rocket Giving Fund; The Parade Company; the Detroit Children's Fund and the Skillman Foundation. Mr. Emerson earned a bachelor's degree in business from Penn State University.


The terms of Mr. Emerson's compensation for his new role and his committee assignments as a member of the Board will be determined at a later date.