NMI Holdings names Aurora Swithenbank CFO effective May 1, replacing Ravi Mallela
NMI Holdings, Inc. said Aurora Swithenbank, formerly CFO of Vantage Group Holdings Ltd., will become Executive Vice President and Chief Financial Officer effective May 1, 2024, succeeding Ravi Mallela, who is leaving the company on the same date in an involuntary termination without cause. The filing says his departure is not the result of any disagreement over financial disclosures, accounting, operations, policies or practices. The change is a senior executive transition that shareholders may watch for continuity in financial leadership.
- Aurora Swithenbank becomes EVP and CFO effective May 1, 2024, with a base salary of $505,000 and a target bonus of 100% of base salary
- Her one-time inducement equity award has a grant date value of $1,500,000 in restricted stock units
- Ravi Mallela, CFO since 2022, leaves effective May 1, 2024; his separation severance payment is $252,500
- The company said Mallela's departure involves no issues or disagreements relating to financial disclosures or accounting