Offerpad Appoints Peter Knag as Chief Financial Officer

Rhea-AI Summary

Offerpad Solutions announced the appointment of Peter Knag as its new Chief Financial Officer, effective June 5, 2024. Knag brings over 20 years of financial leadership experience from notable companies such as WarnerMedia, TBS, and AT&T. He has a proven track record in financial planning, treasury, corporate development, and risk management. Knag has played key roles in transactions exceeding $200 billion during his career. CEO Brian Bair expressed excitement over Knag's appointment, highlighting his financial expertise and leadership abilities. Knag looks forward to contributing to Offerpad's growth and profitability.

Positive

• Appointment of an experienced CFO, Peter Knag, with 20+ years in finance leadership.
• Knag's background includes roles at WarnerMedia, TBS, and AT&T, bringing diverse expertise.
• Knag has managed transactions exceeding $200 billion, demonstrating his financial acumen.
• CEO Brian Bair highlighted Knag's potential to drive growth and profitability.
• Knag has experience in strategic planning, financial analysis, and investment management.

Negative

• No immediate actionable financial data or performance metrics provided in the PR.
• Potential over-reliance on Knag’s past experience without clear short-term strategies.

Seasoned executive with 20+ years of finance leadership at WarnerMedia, TBS, and AT&T

CHANDLER, Ariz.--(BUSINESS WIRE)-- Offerpad Solutions Inc. (“Offerpad”) (NYSE: OPAD), a leading tech-enabled platform for residential real estate, today announced the appointment of Peter Knag as its new Chief Financial Officer, effective June 5, 2024. Knag brings a proven track record of success and deep financial acumen to Offerpad, having excelled in senior financial leadership roles across the media, telecommunications, technology, and finance sectors.

Knag is the former Executive Vice President & Chief Financial Officer for Turner Broadcasting System, Inc., the parent company of CNN, TNT, and TBS. He joined Turner in June 2018 following AT&T’s acquisition of Time Warner. As Executive Vice President of WarnerMedia Finance, a role Knag held from 2020 to 2022, he was responsible for Financial Planning & Analysis (FP&A), treasury, financial reporting, global procurement, corporate development, risk management and other key business areas.

Prior to his tenure at Turner, Knag held key leadership roles at AT&T Inc., where he demonstrated his expertise in financial strategy, corporate development, and relationship management on a global scale. Throughout his distinguished career at AT&T, which began in 1999, Knag played a pivotal role in driving the company’s financial success and growth, executing transactions exceeding $200 billion in total value. His experience spans a wide range of financial disciplines, including strategic planning, financial analysis, and investment management.

Knag began his career in investment banking, having worked for Lehman Brothers and First Albany Corporation. He has also served as a board member for Central European Media Enterprises, then a NASDAQ listed media company, and Vogel Alcove. He continues to serve on the board of TAP Advisors, a boutique advisory and investment banking firm.

"We are thrilled to welcome Peter Knag to the Offerpad team," said Brian Bair, Chairman and CEO of Offerpad. "His extensive background in finance and corporate development, along with his proven leadership in business operations and complex transactions makes him an invaluable addition to our executive team. We look forward to his contributions as we continue to drive growth and profitability at Offerpad."

Knag expressed his enthusiasm about joining Offerpad, stating, "I am excited to join at such a dynamic time for the company. I look forward to working with the talented team to continue to grow and diversify Offerpad’s platform offerings and drive efficiency, scale and profitability in the business."

About Offerpad Solutions Inc.

Offerpad, dedicated to simplifying the process of buying and selling homes, is a publicly traded company committed to providing comprehensive solutions that removes the friction from real estate. Our advanced real estate platform offers a range of services, from consumer cash offers to B2B renovation solutions and industry partnership programs, all tailored to meet the unique needs of our clients. Since 2015, we've leveraged local expertise in residential real estate alongside proprietary technology to guide homeowners at every step. Learn more at www.offerpad.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240523732060/en/

Cortney Read, Chief of Staff

press@offerpad.com

Source: Offerpad

FAQ

Who is the new CFO of Offerpad (OPAD)?

Peter Knag has been appointed as the new CFO of Offerpad (OPAD), effective June 5, 2024.

What is Peter Knag's previous experience before joining Offerpad (OPAD)?

Peter Knag has held financial leadership roles at WarnerMedia, TBS, and AT&T with a proven track record in financial planning and corporate development.

When will Peter Knag start his role as CFO at Offerpad (OPAD)?

Peter Knag will begin his role as CFO at Offerpad (OPAD) on June 5, 2024.

What expertise does Peter Knag bring to Offerpad (OPAD)?

Peter Knag brings expertise in financial planning, treasury, corporate development, and risk management to Offerpad (OPAD).

How might Peter Knag's appointment as CFO impact Offerpad's (OPAD) financial strategy?

With his extensive experience, Peter Knag is expected to drive growth, scale, and profitability at Offerpad (OPAD).