Rocket Companies announced major leadership changes on Monday.
The company appointed Varun Krishna, a veteran in the financial technology world who held executive positions at Intuit and PayPal, as its new CEO. In addition, Bob Walters has informed the board of directors of his intention to retire from his role as CEO of Rocket Mortgage and president and Chief Operating Officer of Rocket Companies.
Starting on September 5, Krishna will replace Bill Emerson, who has served as interim CEO since June, when Jay Farner retired from Rocket, ending his 27-year stint at the firm. Emerson will continue as interim CEO and on the board until September 5. He will assist Krishna in the transition.
Krishna will also succeed Walters after his retirement in September. Emerson will assume the roles of president and COO for Rocket Companies.
Krishna’s nomination confirms that Rocket is as committed to becoming a fintech company. He most recently served as executive vice president and general manager for consumer products at Intuit, overseeing products and services like TurboTax and TurboTax Live. Before that, Krishna served as senior director of products at PayPal, managing the global consumer product team.
Dan Gilbert, founder and chairman of Rocket Companies, called Krishna a “visionary leader with a proven track record of helping consumers achieve financial freedom,” according to a statement.
Gilbert also thanked Walters for his service to the company and expertise in capital markets. “Since joining Rocket Mortgage more than 26 years ago, Bob has built an exceptional team and strengthened our foundation to enable the company to grow in any market,” he said.
Krishna said that Rocket has a “rock-solid foundation and tremendous potential, with its comprehensive ecosystem and industry-renowned technology, strong brand and award-winning client service.”