SoFi, the online personal finance company that specializes in loans, refinancing, and mortgages, has announced that senior Chief Revenue Officer Michael Tannenbaum will be leaving SoFi, months after co-founder Dan Macklin announced he would be moving on as well.
On June 6th, Macklin stepped down from his position as VP of Community and Member Success. Macklin had an important role in the company’s success and reiterated his continuation of support for the company after his departure. Macklin made the following statement:
“First of all, I would say it’s been a very difficult decision… To step away from SoFi — it’s a hard decision. I feel comfortable making that decision now given the shape we’re in. The company is in really great shape, so for me it feels like the right time to make the switch… We’re working with more than 700 employers to help their employees with all aspects of their financial health, but especially dealing with student debt.”
Michael Tannenbaum was responsible for handling the company’s growth strategy, specifically for loan financing and mortgages. Although Tannenbaum was praised for his performance, he was reportedly interested in creating his own finance startup. SoFi CEO Mike Cagney was quick to comment on the departure stating, “Michael has done an admirable job in his time at SoFi, and we wish him all the best as he builds his own startup in the payments space.”
The departure of both Macklin and Tannenbaum mark a common trend within recent weeks at Sofi, with CFO Nino Fanlo and CISO Yassir Abousselham also leaving.
Mohammad Sultani for TechFunnel.com