Wonder if the fact that many states hold the manager and officers of LLC personally liable for the costs and damages of deceptive business practices had anything to do with his departure?
|Item 5.02||Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.|
On November 20, 2014, Wilbur L. Ross, Jr. notified the Board of Directors (the “Board”) of Ocwen Financial Corporation (the “Company”) of his decision to resign as a director on the Board effective immediately as a result of his election as Vice Chairman of Bank of Cyprus and the requirements of certain European regulations which limit directorships of bank officers. Mr. Ross is simultaneously resigning from the board of directors of several other public companies. Mr. Ross’ decision to resign as a director was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies or practices.