Lending Club (NYSE:LC) filed an 8K yesterday indicating that Chief Technology Officer John MacIlwaine had submitted his resignation on December 15th. MacIlwaine decided to depart from Lending Club to pursue another opportunity. Lending Club stated that Richard Southwick, Senior Vice President for Technology, will oversee the Company’s technology development and operations while they conduct a search for a new Chief Technology Officer.
MacIlwaine joined Lending Club in mid-2012. He had previously served as head of global development at Visa, Inc. MacIlwaine had also served as CTO for Morgan Stanley, where he directed the platform for all Morgan Stanley Dean Witter retail brokerage electronic commerce efforts. MacIlwaine was a finalist in the Innovation / Transportation category in the 2016 BayArea CIO of the Year Awards.
Lending Club was most recently in the news as it was revealed the SEC had questioned its usage of Non-GAAP metrics following new corporate guidance issued in May.