Doma Announces Chief Financial Officer Departure

Rhea-AI Summary

Doma Holdings, Inc. (NYSE: DOMA) announced that Chief Financial Officer Noaman Ahmad will step down effective May 15, 2022, for personal reasons to join a private company. Max Simkoff, Doma's CEO, expressed gratitude for Noaman's contributions, particularly during the company's public offering. Mike Smith, currently Chief Accounting Officer, will serve as Acting CFO following Noaman's departure. The company will begin an external search for a new CFO. Doma aims to transform real estate transactions using advanced technology, providing efficient solutions for lenders and homeowners.

Positive

• Noaman Ahmad's contributions, especially during the IPO, were recognized positively.
• Mike Smith's appointment as Acting CFO may ensure operational continuity during the transition.
• Doma is initiating an external search for a new CFO to maintain leadership stability.

Negative

• The departure of a key executive, the CFO, may lead to uncertainty in financial leadership.
• Transition periods can disrupt company operations and strategic focus.

SAN FRANCISCO--(BUSINESS WIRE)-- Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive change in the real estate industry, today announced that its Chief Financial Officer, Noaman Ahmad, will be stepping down effective May 15, 2022. Noaman’s decision is solely for personal reasons and will allow him to take on a new role at a private company in an unrelated industry.

“Doma is tremendously appreciative of Noaman’s contributions to our business during his tenure, including the instrumental role he played in our go public transaction last year,” said Max Simkoff, Doma CEO. “We are saddened to see him depart but wish him the very best in his future endeavors.”

“It’s been a pleasure to work with such a talented group of individuals at Doma over the last several years,” said Noaman. “I am incredibly proud of what we’ve built together, and I am excited to see what the future holds for the company.”

Effective upon Noaman’s departure, Mike Smith, currently Doma’s Chief Accounting Officer, will serve as the Company’s Acting Chief Financial Officer and Principal Financial Officer. Until the effective date of his resignation, Noaman will continue to serve as the company’s Chief Financial Officer and is working closely with the company to help ensure a smooth transition of his responsibilities to Mike.

“I’d like to thank Noaman for the work he’s put into building a very strong team over the past three and a half years,” said Mike. “I look forward to continuing that work as Acting Chief Financial Officer and wish Noaman the best as he embarks on a new chapter.”

Doma will be initiating an external search for a new Chief Financial Officer in the coming weeks.

About Doma

Doma (NYSE: DOMA) is architecting the future of real estate transactions. The Company uses machine intelligence and its proprietary technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for current and prospective homeowners, lenders, title agents, and real estate professionals that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. To learn more visit doma.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220407005918/en/

Investor Contact: Beatriz Bartolome | Head of Investor Relations for Doma | ir@doma.com

Media Contact: Camilla Whitmore | Lead, Public Relations for Doma | press@doma.com

Source: Doma Holdings, Inc.

FAQ

Who is the new Acting CFO of Doma Holdings, Inc.?

Mike Smith, the current Chief Accounting Officer, will serve as Acting CFO.

Why is Noaman Ahmad stepping down from Doma Holdings, Inc.?

Noaman Ahmad is stepping down for personal reasons to take on a new role at a private company.

When will Noaman Ahmad's resignation take effect?

Noaman Ahmad's resignation will take effect on May 15, 2022.

What impact does the CFO resignation have on Doma Holdings, Inc.?

The resignation of the CFO may create uncertainty in financial leadership and could disrupt operations during the transition.

What is Doma Holdings, Inc. focused on?

Doma Holdings, Inc. focuses on transforming real estate transactions through machine intelligence and technology.