Job shakeups of a different kind are happening over at Rocket Companies, with this morning’s announcement that longtime CEO Jay Farner plans to retire from his position effective June 1, 2023.
Longtime Rocket Executive and current Vice Chairman of Rock Holdings Bill Emerson has been named Interim CEO. Emerson has served 15 years as Farner’s immediate predecessor, per a company statement.
“For nearly three decades Jay has poured everything he has into making our organization successful,” said Dan Gilbert, Founder and Chairman of Rocket Companies. “Since being appointed CEO of Rocket Mortgage in 2017, and subsequently CEO of Rocket Companies in connection with the August 2020 IPO, Jay has overseen the most rapid period of growth and profitability in our 37-year history. His passion for people and vision for the future has benefitted Rocket tremendously and on behalf of the entire Board, I’d like to thank him for all of his work over the years.
“Looking forward, we are fortunate to have someone of Bill’s caliber and experience to serve as Interim CEO while the Board conducts a search for a permanent successor,” Gilbert added. “For a decade and a half, Bill served at the helm of our mortgage business—driving impressive results and setting the tone for our culture. He loves Rocket Companies and the industry, and he has remained very engaged in the business through his position at Rock Holdings. We are excited to welcome Bill back to the role and are confident in his ability to lead the Company forward.”
The Board of Directors 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.