US fintech Rocket Companies appoints Varun Krishna as new CEO
Detroit-based financial services and consumer lending firm Rocket Companies has announced Varun Krishna as its incoming chief executive officer (CEO), while also confirming the departure of its president and chief operating officer (COO), Bob Walters.
Krishna joins the fintech from San Diego-based financial software company Intuit, where he has served as EVP and GM of its consumer group since May 2022.
During this time, Intuit’s consumer and tax products and services were held under his remit, including TurboTax and TurboTax Live, with the latter becoming the company’s fastest growing product.
Prior to this, Krishna also managed PayPal’s global consumer product team when he served as the company’s senior director of product between May 2014 and September 2015.
Now he is to be instated as the CEO of Rocket Companies, effective from 5 September and succeeding Bill Emerson, who has served as the company’s interim CEO since June.
Expressing his pride in joining the team, Krishna says he sees Rocket Companies – which includes Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – as having “a rock-solid foundation and tremendous potential”.
Likewise, Dan Gilbert, founder and chairman of Rocket Companies, describes Krishna as “a visionary leader with a proven track record of helping consumers achieve financial freedom”.
He adds that Krishna’s two decades of industry experience in building consumer platform strategies “aligns perfectly” with Rocket’s strategic agenda, and that he is “the ideal person” to stimulate its future growth and performance.
Bob Walters departs
The company’s announcement also revealed that Bob Walters, the current CEO of Rocket Mortgage and president and COO of Rocket Companies, is to retire after 27 years with the company, also effective from 5 September.
Krishna is to fulfil the role of CEO of Rocket Mortgage upon Walters’ departure, while Emerson will assume the position of president and COO for Rocket Companies.
“Since joining Rocket Mortgage more than 26 years ago, Bob has built an exceptional team and strengthened our foundation to enable the company to grow in any market,” comments Gilbert.
“His legacy as a leader and an expert in capital markets will leave a lasting impact on Rocket Mortgage and I thank him for the years of dedication to our business.”
Speaking on his retirement, Walters adds: “I’m excited about the next chapter, but I will deeply miss the camaraderie, passion and excellence of everyone who has built Rocket into the great company that it is.”