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Ellie Mae CFO Matthew LaVay Resigns

Ellie Mae CFO Matt LavayEllie Mae, a cloud-based platform provider for the mortgage finance industry, announced today that Matthew LaVay, EVP and CFO, is leaving the California-based company effective June 15, 2018, for personal reasons. There are no issues involving the company’s financial results, internal controls, or financial reporting procedures that led to LaVay’s departure, Ellie Mae reported. The company also announced that there is no change to its financial guidance for the second quarter and full year 2018, which it first provided when it reported its first-quarter earnings on April 26, 2018.

The company has commenced an executive search process for a successor.

Popi Heron, VP and Corporate Controller, is assuming the role of interim CFO. Heron has more than 26 years of finance and accounting experience. She has served as the company’s VP and Corporate Controller since 2016. Prior to joining the company, Heron served as the Corporate Controller and Senior Director, Finance for GoPro, Inc. for over four years.

Additionally, Ed Luce, the company’s former CFO, is joining the company as an advisor to support the company’s finance and accounting organization and assist in its search for a successor.

“We have a strong bench of talent in our finance organization and are pleased to have Popi lead our financial operations on an interim basis to ensure a smooth transition as we conduct a search for our next CFO,” said Jonathan Corr, President & CEO. “We thank Matt for his contributions to Ellie Mae over the last six years.”

Prior to joining Ellie Mae, Matthew LaVay served as VP Corporate Controller at Taleo Corporation and as Corporate Controller and Senior Director of Finance at Scientific Learning before that. LaVay holds a Bachelor degree in Management from Georgia Institute of Technology and a Master of Accounting degree from Georgia State University.

Headquartered in Pleasanton, California, Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring high levels of compliance, quality, and efficiency.

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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