Katherine Lehman to leave Navient board of directors

Rhea-AI Summary

On April 21, 2022, Navient (Nasdaq: NAVI) announced that board member Katherine A. Lehman will not seek reelection during the upcoming annual shareholders' meeting. Lehman, with the company since 2014, cited increased responsibilities at Palladium Equity Partners as the reason for her decision. Navient's President and CEO, Jack Remondi, acknowledged her contributions, highlighting her value to the organization. The company continues to focus on technology-enabled education finance and business processing solutions.

Positive

• Katherine A. Lehman's contributions recognized by management, indicating strong governance.
• Transition may allow for new perspectives in board leadership.

Negative

• Loss of an experienced board member, which may impact strategic continuity.

WILMINGTON, Del., April 21, 2022 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, today announced that board member Katherine A. Lehman will not stand for reelection at Navient’s annual meeting of shareholders.

Ms. Lehman, a partner for the Palladium Heritage strategy at Palladium Equity Partners and a Navient director since 2014, informed the Board that her expanded role at Palladium will require her to allocate more time and attention.

“I am thankful for Kate’s service, contributions and guidance,” said Jack Remondi, president and CEO of Navient. “She has been a valuable resource for me, my colleagues and the board.”

“Kate has made valuable contributions to Navient’s success,” said Linda Mills, chair of Navient’s Board of Directors. “We thank her for her dedication and support, and we wish her well in the future.”

About Navient
Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, health care and government. Learn more at navient.com.

Contact:
Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.com
Investors: Nathan Rutledge, 703-984-6801, nathan.rutledge@navient.com

FAQ

Why is Katherine A. Lehman not seeking reelection from Navient's Board?

Katherine A. Lehman is stepping down to focus on her expanded role at Palladium Equity Partners.

How long has Katherine A. Lehman served on Navient's Board?

Katherine A. Lehman has been a board member since 2014.

What impact might Katherine A. Lehman's departure have on Navient?

Her departure could affect strategic continuity due to her experience and contributions.