Economy

SoFi's CEO is resigning immediately

SoFi's CEO is resigning immediatelyā€¯

Online lender Social Finance, which is now investigating claims of sexual harassment by employees, said on Friday its chief executive, Mike Cagney resigned, effectively immediately.

Tom Hutton, SoFi's executive chair and now interim CEO, says, "SoFi's management and employees have built a remarkable company, and I look forward to helping the company continue to grow".

The board is also hoping to find a replacement soon, the people added, though it's unclear if Cagney's abrupt departure will give them more or less time to conduct their search.

San Francisco-based SoFi, one of the most valuable financial technology startups, is facing a lawsuit over claims of sexual harassment and fraudulent actions by managers.

SoFi has a non-traditional work culture, hosting cocktail parties, yoga sessions and singles meetups for its customers, which it refers to as members.

His resignation comes just days after he announced he would be step down at the end of the year over allegations of sexual harassment by its employees. Venture capitalists have also faced criticism over their treatment of female entrepreneurs.



Like this

Latest


16 September 2017
Mnuchin: Plane request was about national security
Both the flight to Kentucky and the honeymoon request are under review by the Treasury Department's inspector general. He said that his staff later decided it was unnecessary and found another means of providing him what he needed.

16 September 2017
IShares Russell 1000 Index Fund (IWB): Tracking the Indicators
Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend.

16 September 2017
Teladoc, Inc. (NYSE:TDOC) Sees Significantly Higher Trading Volume
The health services provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). (NYSE: TDOC ) from a sell rating to a hold rating in a research report sent to investors on Wednesday, September 6th.

16 September 2017
Array BioPharma Inc. (NASDAQ:ARRY) Volume Spiking Mid-session
Acadian Asset Management LLC bought a new stake in Array BioPharma during the 1st quarter valued at approximately $1,242,000. The stock of Array Biopharma Inc (NASDAQ: ARRY ) has "Buy" rating given on Wednesday, May 31 by Piper Jaffray.

16 September 2017
A deeper conspiracy at Ryan? Detained suspects allege police torture
With three days left for submission of chargesheet in court, we have got possible positive leads against. He said that till that time, Pradyuman was breathing, but he was unable to make any movement.

16 September 2017
Effectively hedging the stocks in today's share market: Analog Devices, Inc. (ADI)
The Firm has ATR of 1.64 that is explaining range of a day's trading is high-low; ATR expands it to yesterday's closing price. Analog Devices, Inc . (NASDAQ: ADI ) has a market cap of $30.42 billion and over the last 12 months, ADI has risen by 35.75%.

16 September 2017
Investigational Skin Patch Delivers Fat-Burning Drug to Targeted Areas
Even better and more importantly, the patch could serve as a future treatment for metabolic conditions or diabetes. New patches were applied every three days for a total of four weeks.

15 September 2017
Raiders, Donald Penn agree on 2-year, $21M contract
A source said talks ramped up this week and a deal got done that ends a prolonged contract issue that produced few ill effects. With Janikowski and Penn taken care of contractually, the Raiders can now exclusively focus on football for the time being.

15 September 2017
Paddy Power Plc (PAP) Earns Buy Rating from Deutsche Bank AG
The Average Directional Index or ADX is a technical analysis indicator used to describe if a market is trending or not trending. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory.

15 September 2017
McIlroy's FedEx Cup hopes fade fast in Chicago
Jamie Lovemark also had a 64 with a little more style, drilling a fairway metal over the creek to 8 feet for eagle on the par-5 18th.



Recommended