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NovaStar CEO to Retire

Posted at December 19th, 2007 12:50 pm by Ryan Fiore
Filed under: Housing Market, Mortgage Lending

NovaStar Financial announced late today that Scott Hartman, Chairman, CEO, and Co-Founder of Novastar, will leave the company to retire.

In addition to Hartman leaving, NovaStar also loses CFO Gregory Metz, and General Counsel Jeff Ayers. All three of them are expected to leave on January 3rd. Lance Anderson, co-founder and current president and COO NovaStar, will assume the chairman and CEO position, in addition to his current roles. Rodney Schwatken, vice president of strategic initiatives, will assume the CFO role.

The release did not contain information about the severance packages anyone would receive.  The release stated that “the board of directors is restructuring the company’s management” as a result of “changes in the business environment and operations of the company.”

To read more about NovaStar CEO and co-founder, CFO to retire head on over to bizjournals.

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