Open Lending Corporation announced changes to its Board of Directors . On July 27, 2023, John J. Flynn stepped down as Chairman of the Board following over 20 years of service in that role. Mr. Flynn, a co-founder of the Company as well as its former CEO, will remain as a non-employee member of the Board, ensuring continuity and an orderly transition of leadership.

The Board appointed Jessica Snyder as its new Chairman. Ms. Snyder, an independent director, has served on the Board since 2020 and has served as chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee. In addition, the Company announced that the Board has established an Innovation and Development Committee, the primary purposes of which will be to facilitate streamlined collaboration with management on its proposed growth initiatives for the Company and ensure a smooth transition of the Chairman role from Mr. Flynn to Ms. Snyder.

The Board has appointed Mr. Flynn, Blair J. Greenberg, and Thomas K. Hegge as members and Ms. Snyder as chair of the Innovation and Development Committee. In connection with her appointment as Chairman of the Board, Ms. Snyder stepped down from her position as chair of the Audit Committee of the Board, and Eric A. Feldstein was appointed chair of the Audit Committee. Ms. Snyder will remain a member of the Audit Committee.

In addition, Mr. Greenberg stepped down as chair of the Compensation Committee of the Board, and Shubhi Rao was appointed chair of the Compensation Committee. Mr. Greenberg will remain a member of the Compensation Committee.