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Investing.com -- Loandepot Inc (NYSE:LDI) stock rose 3.6% after the company announced that founder Anthony Hsieh has been appointed permanent Chief Executive Officer, effective immediately. Hsieh had been serving as Interim CEO since Frank Martell’s departure on June 4, 2025.
The mortgage lender’s Board of Directors cited Hsieh’s "founder’s mentality, history of disruption and commitment to innovation" as key factors in their decision, particularly as the industry faces significant transformation driven by artificial intelligence.
Hsieh founded loanDepot in 2010 and grew the business by an average of 38% YoY during its first decade, establishing it as the second largest retail lender in the nation. Under his leadership, the company developed its proprietary point of sale software, mello®, which remains the platform of choice for originators.
"The broad adoption of AI represents a paradigm shift, and we must be ready to capitalize on that opportunity," Hsieh said in the announcement. He emphasized his plans to drive profitable growth and regain market share while recommitting to innovation.
As part of his 90-day plan, Hsieh intends to expand his leadership team with several top-tier executives who will align with his innovation agenda and focus on improving company performance.
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