NewtekOne CEO Departs; Interim CEO Appointed
Ticker: NEWTH · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1587987
| Field | Detail |
|---|---|
| Company | Newtekone, Inc. (NEWTH) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.02, $700,000, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-departure, board-election
Related Tickers: NEWT
TL;DR
CEO Barry Sloane OUT at NewtekOne, interim CEO Mager IN, new board members elected.
AI Summary
NewtekOne, Inc. announced on April 5, 2024, the departure of Barry Sloane from his roles as President and Chief Executive Officer, effective immediately. The company also announced the appointment of Christopher J. Mager as interim CEO and the election of two new directors, Steven E. Scheierman and Barry M. Honig, to its Board. These changes are effective as of April 5, 2024.
Why It Matters
The sudden departure of the CEO and the appointment of interim leadership, along with new board members, signals a significant leadership transition that could impact the company's strategic direction and operational stability.
Risk Assessment
Risk Level: medium — CEO departures and board changes often introduce uncertainty regarding future strategy and execution, which can pose risks to the company's performance.
Key Players & Entities
- NewtekOne, Inc. (company) — The company filing the report.
- Barry Sloane (person) — Departing President and Chief Executive Officer.
- Christopher J. Mager (person) — Appointed interim Chief Executive Officer.
- Steven E. Scheierman (person) — Elected to the Board of Directors.
- Barry M. Honig (person) — Elected to the Board of Directors.
- April 5, 2024 (date) — Effective date of the reported events.
FAQ
Who has been appointed as the interim CEO of NewtekOne, Inc.?
Christopher J. Mager has been appointed as the interim Chief Executive Officer of NewtekOne, Inc.
When were the leadership changes and board appointments effective?
The leadership changes and board appointments were effective as of April 5, 2024.
Who has departed from their executive roles at NewtekOne, Inc.?
Barry Sloane has departed from his roles as President and Chief Executive Officer.
How many new directors were elected to the Board of Directors?
Two new directors, Steven E. Scheierman and Barry M. Honig, were elected to the Board of Directors.
What is the exact date of this Form 8-K filing?
The Form 8-K filing is dated April 5, 2024.
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-04-05 16:07:35
Key Financial Figures
- $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
- $700,000 — nual base compensation in the amount of $700,000 and Mr. Schwartz will become entitled t
- $500,000 — nual base compensation in the amount of $500,000. In addition, the Company entered int
Filing Documents
- newt-20240405.htm (8-K) — 28KB
- 0001587987-24-000064.txt ( ) — 207KB
- newt-20240405.xsd (EX-101.SCH) — 4KB
- newt-20240405_def.xml (EX-101.DEF) — 17KB
- newt-20240405_lab.xml (EX-101.LAB) — 31KB
- newt-20240405_pre.xml (EX-101.PRE) — 17KB
- newt-20240405_htm.xml (XML) — 6KB
SIGNATURES
SIGNATURES In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NEWTEKONE, INC. Date: April 5, 2024 By: /S/ B ARRY S LOANE Barry Sloane Chief Executive Officer, President and Chairman of the Board