Open Lending Corporation (NASDAQ: LPRO) has announced the retirement of co-founder John J. Flynn from the company's board of directors. Mr. Flynn, who had served as a member of the board since 2000 and previously as chief executive officer from April 2000 until October 2022, stepped down on January 16, 2025. Following his retirement from the board, Mr. Flynn agreed to serve as a consultant to the company through the end of 2025.
Under Mr. Flynn's leadership, Open Lending has built a strong foundation for growth and focus on innovation to empower financial institutions to grow their portfolios and create access to vehicle ownership. "When we started the company over 20 years ago, it was built on a mission to make vehicle ownership more accessible to applicants in the near* and non-prime credit spectrum," said Mr. Flynn.
Reflecting on Mr. Flynn's retirement, Jessica Buss, the chairman of the board, expressed gratitude for his leadership and wished him well in his retirement. Chuck Jehl, the CEO of Open Lending, also acknowledged Mr. Flynn's instrumental role in guiding the company's mission, growth strategy, and innovation in the automotive lending industry, stating, "John has been instrumental in guiding our mission, growth strategy, and innovation in the automotive lending industry. We look forward to continuing his legacy."
As Open Lending moves forward, the company remains focused on its mission of providing loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. With over 20 years of experience, Open Lending continues to empower financial institutions to create profitable auto loan portfolios with less risk and more reward. As a result of these announcements, the company's shares have moved -1.3% on the market, and are now trading at a price of $5.12. For the full picture, make sure to review Open Lending's 8-K report.
