Onity Group names data science expert Robert Welborn to board

WEST PALM BEACH, Fla. - Onity Group Inc. (NYSE:ONIT) has appointed Robert S. Welborn to its Board of Directors, effective October 1, 2025, according to a company press release.

Welborn, who previously held leadership positions at Meta Inc. as Head of Data Science from 2020 through 2024, brings experience in data analytics across various industries. Before Meta, he served as Global Chief Data and Analytics Officer at General Motors Company between 2018 and 2020, and held several positions including Chief Data Scientist at USAA from 2009 to 2017.

Since 2021, Welborn has served as a director of NOV Inc. (NYSE:NOV), an equipment provider to the global energy industry. He holds a Bachelor of Science in Engineering from Texas A&M University and an MBA from the University of California, San Diego.

Glen A. Messina, Chair, President and CEO of Onity, said Welborn’s expertise will support the company’s technology innovation initiatives. For deeper insights into companies like NOV, InvestingPro subscribers can access comprehensive research reports covering 1,400+ US stocks, transforming complex data into actionable intelligence.

The company also announced that DeForest B. Soaries Jr. will not seek re-election at the 2026 Annual Meeting of Shareholders scheduled for May 20, 2026. Soaries will continue to serve on the Board until that time. He has been a board member since 2015.

Onity Group describes itself as a non-bank financial services company providing mortgage servicing and originations solutions through its brands PHH Mortgage and Liberty Reverse Mortgage. The company has been operating since 1988 with offices in the United States, the U.S. Virgin Islands, India and the Philippines. According to InvestingPro analysis, NOV currently trades below its Fair Value, suggesting potential upside opportunity. The stock offers a 2.19% dividend yield and trades at an attractive P/E ratio of 11.3x.

In other recent news, NOV Inc. reported its second-quarter 2025 earnings, meeting analysts’ expectations with an earnings per share (EPS) of $0.29. The company exceeded revenue forecasts, posting $2.19 billion compared to the anticipated $2.14 billion. Despite these results, there are concerns among investors about market conditions and future guidance. Additionally, NOV’s Board of Directors declared a regular quarterly cash dividend of $0.075 per share, payable on September 26, 2025, to stockholders of record as of September 12, 2025. In another development, JPMorgan downgraded NOV’s stock rating from Overweight to Neutral, adjusting its price target from $17.00 to $15.00. This downgrade is attributed to ongoing macroeconomic challenges, such as delays in deepwater investment decisions and a slowdown in global drilling activity. These recent developments provide investors with critical insights into NOV’s current financial and market position.

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