Open Lending Announces New Board Appointments
Open Lending Corporation (NASDAQ: LPRO) has announced the appointments of Jessica Snyder and Shubhi Rao to its Board of Directors, effective August 5, 2020. Snyder, who will chair the Audit Committee, and Rao, who joins the Audit Committee, bring extensive experience in finance and leadership from their careers at leading companies. CEO John Flynn expressed confidence in their ability to provide valuable insights as the company executes its growth plans following its public listing. Open Lending provides analytics and risk solutions to financial institutions across the U.S.
- Appointment of experienced directors Jessica Snyder and Shubhi Rao strengthens the board.
- Both appointees have significant backgrounds in finance and leadership, enhancing corporate governance.
- None.
AUSTIN, Texas, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced the appointments of Jessica Snyder and Shubhi Rao to its Board of Directors, effective August 5, 2020. Ms. Snyder was appointed to serve on the Nominating and Corporate Governance Committee and as the Chair of the Audit Committee. Ms. Rao was appointed to serve on the Audit Committee.
“We are pleased to welcome Jessica and Shubhi as new independent Directors to our Board,” said John Flynn, chairman and chief executive officer of Open Lending. “They join Open Lending at an exciting time as a newly public company and given their strong leadership backgrounds in the auto and finance fields, we are confident they will provide valuable insights as we continue to execute on our growth plan and drive shareholder value.”
Jessica Snyder is the president and chief executive officer of GuideOne Insurance Company. Previously, she was senior vice president – Commercial and Specialty Lines at State Auto Insurance Companies. Jessica held several other positions during her tenure at State Auto, including chief operating officer and chief financial officer of the company’s specialty subsidiary, and senior vice president of Specialty. Prior to joining State Auto, Jessica was a member of a three-person team that raised the capital for the formation and start-up operations of Rockhill Holdings, a niche property and casualty business that was purchased by State Auto in 2009. She was also the chief financial officer for Citizens Property Insurance Corporation. In 2016, Jessica was named one of Insurance Business’ Elite Women of the Year. Jessica earned her bachelor’s degree in accounting from the University of Wisconsin and her Master of Business Administration from the University of Florida.
Shubhi S. Rao is a global finance executive, Board Member and Advisor who delivers strategic and operational leadership for dynamic and complex businesses including Alphabet/Google, Tesco, PwC, Tyco, and Ford and venture backed businesses. She was vice president, treasurer and officer of Alphabet from 2016 to 2018 and group treasurer of Tesco PLC in London from 2014 to 2016. Shubhi began her career in finance at Ford Motor Company. She held several leadership roles within the Treasurer’s office including assistant treasurer of Ford of Europe. Shubhi is a mother, wife, fundraiser and serves on the boards of think tanks -- International Center for Research on Women and Center for Global Development. She is also the honorary member of the executive advisory council for the Federal Reserve Bank of San Francisco. Shubhi earned her B.S. in Computer Science Engineering from Michigan State University and a MBA from the University of Michigan, Ann Arbor.
About Open Lending
Open Lending, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling and default insurance, ensuring profitable auto loan portfolios for financial institutions throughout the United States. For more information, please visit www.OpenLending.com.
Contact:
ICR for Open Lending
Investors
openlending@icrinc.com
FAQ
What are the recent board appointments at Open Lending (LPRO)?
What positions will Jessica Snyder and Shubhi Rao hold at Open Lending?
What is Open Lending's core business focus?
How does the appointment of new directors impact Open Lending (LPRO)?
