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Tom Hutton, SoFi's executive chairman, is now serving as interim CEO. SoFi seems to have a problem with its now-departed CEO.”In the memo, he announced he was stepping down as chairman but would stay on as chief executive until the end of the year to help find his replacement and facilitate a transition of power.Tom Hutton, executive chairman of the San Francisco company, will become interim CEO.More From the Los Angeles TimesCagney’s resignation was spurred by a lawsuit filed Aug. 11 by former employee Brandon Charles, who was hired as a manager at the company’s office in Healdsburg in Sonoma County. After Cagney’s departure, interim CEO Tom Hutton announced a new companywide initiative called One SoFi, the purpose of which was to define the culture and values that the firm wanted to embrace. Tom Hutton, executive chairman of the San Francisco company, will become interim CEO. According to the company, Tom Hutton (pictured left) was selected to serve as SoFi’s executive chairman, effective immediately.

It’s also looking to identify candidates for a long-term CFO position.Recent events have focused public attention on the company’s internal workings, drawing comparisons with other Silicon Valley tech scandals like Uber. Tom Hutton, executive chairman of the San Francisco company, will become interim CEO. Since then, SoFi has not made public any information about what progress has been made. Mike Bingle Board Member Mar 15, 2017. The company’s recent woes echo problems elsewhere in the technology sector.Ride-hailing company Uber, also based in San Francisco, is struggling to overcome allegations of sexual harassment and executive misconduct.

Eric Stegemann, CEO of Tribus, answers a few questions on why it’s importance to make real estate accessible to all.“In late 2014, we tested a simplified version of our home mortgage product that used paystubs for income verification and did not require home appraisal. SoFi is launching an internal initiative to define the culture and values of the firm as it seeks a new CEO and long-term CFO. “They’re going to need to figure who that leadership team will be, and then have regulators look at them.”The following day, the New York Times published a story in which current and former SoFi employees detailed a “frat house” culture at the firm and accused Cagney of flirting with employees and using questionable tactics to grow the company.Tips for how you and your finances can get through the pandemic.SoFi declined to comment further on the matter, which came following a brutal week for the company.“The business is strong, stable and well-positioned,” Hutton said in a statement. Meet the SoFi leadership team, a group of financial services experts and seasoned entrepreneurs passionate about helping our members get their money right. Venture capitalists have also faced criticism over their treatment of female entrepreneurs.Reporting By Aparajita Saxena and Diptendu Lahiri in Bengaluru; Editing by Shounak Dasgupta and Sai Sachin RavikumarA former Wells Fargo trader and hedge fund manager, Cagney co-founded SoFi in 2011 to compete with banks in the student loan market.SoFi targeted students from elite institutions such as Stanford and Harvard and young people skeptical of traditional banks in the wake of the financial crisis flocked to the new platform.The company had said on Monday that Cagney would step down, but stay on as CEO until a successor was found.

Tom Hutton Board Member Jun 2012.