Findell Capital Issues Rebuttal Presentation on Oportun Financial and Notes Support of Oportun Founder and Former CEO James Gutierrez
Findell Capital Partners, a major stockholder of Oportun Financial (NASDAQ: OPRT), has issued a rebuttal presentation addressing the company's June 18th statements. The investment firm received support from Oportun's founder and former CEO James Gutierrez, who endorsed their plan to restore value and supported the election of Warren Wilcox to replace current board member Raul Vazquez.
Findell aims to strengthen Oportun's Board through improved lending industry credentials, independence, and management oversight at the upcoming 2025 Annual Meeting of Stockholders. The firm criticizes the company for forcing a costly proxy contest by refusing to fill board leadership positions with experienced independent directors and removing former OneMain Financial CFO Scott Parker from the board.
Findell Capital Partners, uno dei principali azionisti di Oportun Financial (NASDAQ: OPRT), ha pubblicato una presentazione di risposta alle dichiarazioni della società del 18 giugno. La società di investimento ha ricevuto il sostegno di James Gutierrez, fondatore ed ex CEO di Oportun, che ha approvato il loro piano per ripristinare il valore e ha supportato l'elezione di Warren Wilcox in sostituzione dell'attuale membro del consiglio Raul Vazquez.
Findell mira a rafforzare il Consiglio di Amministrazione di Oportun attraverso un miglioramento delle competenze nel settore dei prestiti, maggiore indipendenza e un controllo più efficace della gestione durante la prossima Assemblea Annuale degli Azionisti del 2025. La società critica l'azienda per aver costretto a una costosa contesa per procura, rifiutandosi di nominare nei ruoli di leadership del consiglio direttivo direttori indipendenti esperti e per aver rimosso dall'organo direttivo l'ex CFO di OneMain Financial, Scott Parker.
Findell Capital Partners, un importante accionista de Oportun Financial (NASDAQ: OPRT), ha emitido una presentación de réplica en respuesta a las declaraciones de la compañía del 18 de junio. La firma de inversión recibió el apoyo de James Gutierrez, fundador y ex CEO de Oportun, quien respaldó su plan para restaurar el valor y apoyó la elección de Warren Wilcox para reemplazar al actual miembro del consejo Raul Vazquez.
Findell busca fortalecer el Consejo de Administración de Oportun mediante la mejora de las credenciales en la industria de préstamos, la independencia y la supervisión de la gestión en la próxima Junta Anual de Accionistas de 2025. La firma critica a la compañía por forzar un costoso concurso de poderes al negarse a llenar las posiciones de liderazgo del consejo con directores independientes experimentados y por remover del consejo a Scott Parker, ex CFO de OneMain Financial.
Findell Capital Partners는 Oportun Financial (NASDAQ: OPRT)의 주요 주주로서 6월 18일 회사의 발표에 대한 반박 프레젠테이션을 발표했습니다. 투자 회사는 Oportun의 창립자이자 전 CEO인 James Gutierrez의 지지를 받았으며, 그들은 가치 회복 계획을 승인하고 현 이사 Raul Vazquez를 대체할 Warren Wilcox의 선출을 지지했습니다.
Findell은 2025년 연례 주주총회에서 대출 산업 경력, 독립성, 경영 감독 강화를 통해 Oportun 이사회를 강화하는 것을 목표로 합니다. 이 회사는 경험 있는 독립 이사를 이사회 리더십 직책에 임명하지 않고 전 OneMain Financial CFO인 Scott Parker를 이사회에서 제외시켜 비용이 많이 드는 대리 전쟁을 강요했다고 비판합니다.
Findell Capital Partners, un actionnaire majeur de Oportun Financial (NASDAQ : OPRT), a publié une présentation en réponse aux déclarations de la société du 18 juin. La société d'investissement a reçu le soutien de James Gutierrez, fondateur et ancien PDG d'Oportun, qui a approuvé leur plan de restauration de la valeur et soutenu l'élection de Warren Wilcox pour remplacer l'actuel membre du conseil Raul Vazquez.
Findell vise à renforcer le conseil d'administration d'Oportun grâce à des compétences accrues dans le secteur du prêt, à une plus grande indépendance et à une meilleure supervision de la gestion lors de la prochaine assemblée annuelle des actionnaires de 2025. La société critique l'entreprise pour avoir forcé une coûteuse bataille par procuration en refusant de pourvoir les postes de direction du conseil avec des administrateurs indépendants expérimentés et en retirant de son conseil Scott Parker, ancien directeur financier de OneMain Financial.
Findell Capital Partners, ein bedeutender Aktionär von Oportun Financial (NASDAQ: OPRT), hat eine Gegenpräsentation zu den Aussagen des Unternehmens vom 18. Juni veröffentlicht. Die Investmentfirma erhielt Unterstützung von James Gutierrez, Gründer und ehemaliger CEO von Oportun, der ihren Plan zur Wertsteigerung befürwortete und die Wahl von Warren Wilcox zur Ablösung des derzeitigen Vorstandsmitglieds Raul Vazquez unterstützte.
Findell strebt an, den Vorstand von Oportun durch verbesserte Krediterfahrung, Unabhängigkeit und Managementaufsicht auf der bevorstehenden Hauptversammlung 2025 zu stärken. Die Firma kritisiert das Unternehmen dafür, einen kostspieligen Proxy-Kampf erzwungen zu haben, indem es sich weigerte, Führungspositionen im Vorstand mit erfahrenen unabhängigen Direktoren zu besetzen und den ehemaligen CFO von OneMain Financial, Scott Parker, aus dem Vorstand zu entfernen.
- Support from company founder and former CEO James Gutierrez adds credibility to Findell's proposals
- Potential board strengthening through addition of lending industry veteran Warren Wilcox
- Initiative to improve board independence and oversight
- Ongoing costly proxy contest indicating internal governance conflicts
- Significant underperformance compared to peers noted before Findell's involvement
- Removal of experienced board member Scott Parker (former OneMain Financial CFO)
Insights
Findell Capital's proxy fight gains credibility with founder support as they seek board changes at underperforming Oportun.
Activist investor Findell Capital has intensified its proxy contest against Oportun Financial by issuing a rebuttal presentation with a significant endorsement from James Gutierrez, Oportun's founder and former CEO. This development substantially strengthens Findell's position in this governance battle. Gutierrez explicitly supported Findell's diagnosis of Oportun's problems and their proposed solutions, specifically endorsing the replacement of former CEO Raul Vazquez on the board with independent lending veteran Warren Wilcox.
The proxy fight centers on three critical governance concerns: (1) insufficient lending industry expertise on the board, (2) questionable board independence, and (3) weak oversight of management. Findell specifically highlights how Oportun allegedly forced this proxy contest by refusing to add independent directors with relevant industry experience and by removing former OneMain Financial CFO Scott Parker from the board.
What makes this contest particularly noteworthy is the explicit claim that Oportun has significantly underperformed its peers prior to Findell's involvement. The activist's campaign focuses on addressing what they view as the root causes of this underperformance through targeted board refreshment. The involvement of the company's founder lends substantial credibility to these claims and suggests deeper institutional problems may exist.
The upcoming 2025 Annual Meeting will be decisive for Oportun's governance direction. Should Findell succeed in placing their nominee on the board, it could signal the beginning of more extensive changes to Oportun's leadership and strategic direction, potentially affecting everything from risk management practices to capital allocation decisions in this consumer lending business.
Highlights the Support of Oportun Founder and Former CEO James Gutierrez, who Wrote that Findell Has "Offered a Smart, Focused Plan to Restore Value"
Outlines How the Company Forced a Costly Proxy Contest by Refusing to Fill Board Leadership Positions with Independent Directors Who Possess Lending Industry Experience and by Ousting Former OneMain Financial CFO Scott Parker from the Board
Makes Clear That Removing Failed CEO Raul Vazquez from the Board Would Strengthen the Board's Oversight of Management
Reiterates That Oportun Significantly Underperformed Peers Prior to Findell's Involvement – and That Further Board Refreshment Is Needed to Prevent Additional Value Destruction
Earlier today, Oportun Founder and former CEO James Gutierrez released an open letter to stockholders: see here . In the letter, Mr. Gutierrez expressed support for Findell's case for boardroom change at Oportun, writing that "Findell Capital has accurately diagnosed the root causes of this [valuation] gap and offered a smart, focused plan to restore value." He also endorsed the election of Warren Wilcox to the Board of Directors (the "Board") in place of Raul Vazquez.
Findell is seeking to strengthen the Board's lending industry credentials, independence and oversight of management at the 2025 Annual Meeting of Stockholders. We urge stockholders to vote today FOR the election of independent lending industry veteran Warren Wilcox to the Board on the WHITE proxy card.
Visit www.OpportunityAtOportun.com to learn more.
Contact:
Findell Capital Management, LLC
88 Pine Street, 22nd Fl.
info@findell.us
OR
Saratoga Proxy Consulting LLC
John Ferguson
info@saratogaproxy.com
View original content:https://www.prnewswire.com/news-releases/findell-capital-issues-rebuttal-presentation-on-oportun-financial-and-notes-support-of-oportun-founder-and-former-ceo-james-gutierrez-302488699.html
SOURCE Findell Capital Management, LLC
FAQ
What changes is Findell Capital proposing for Oportun Financial's (OPRT) board?
Who supports Findell Capital's proposed changes at Oportun (OPRT)?
Why is there a proxy contest at Oportun Financial (OPRT)?
When is Oportun's (OPRT) 2025 Annual Meeting of Stockholders?
