Business
FLAGSTAR BANK EXTENDS JOSEPH OTTING'S TERM AS CEO AND ANNOUNCES EXECUTIVE LEADERSHIP UPDATES
Flagstar Bank, N.A. (NYSE: FLG) (the "Bank") today announced several leadership updates which further strengthen the Bank's executive management team and support the continued execution of its long-term strategic plan, senior executive development, and succession planning.
About this update from Flagstar Bank, N.a.
[{"type":"text","content":"Joseph Otting's Employment Agreement in His Role as CEO Extended Through March 2028","length":87,"tagName":"p","attribs":{}},{"type":"text","content":"Richard Raffetto and Lee Smith Named Co-Presidents and Co-Chief Operating Officers with Expanded Responsibilities","length":113,"tagName":"p","attribs":{}},{"type":"text","content":"Bao Nguyen Named Chief Legal Officer and Chief Operating Officer for Consumer and Retail Banking","length":96,"tagName":"p","attribs":{}},{"type":"text","content":"Sydney Menefee Named Chief Audit Executive","length":42,"tagName":"p","attribs":{}},{"type":"text","content":"Peter Sullivan Named General Counsel","length":36,"tagName":"p","attribs":{}},{"type":"text","content":"HICKSVILLE, N.Y., May 18, 2026 /PRNewswire/ -- Flagstar Bank, N.A. (NYSE: FLG) (the "Bank") today announced several leadership updates which further strengthen the Bank's executive management team and support the continued execution of its long-term strategic plan, senior executive development, and succession planning.","length":334,"tagName":"p"},{"type":"image","alt":"Flagstar Bank, N.A. Logo (PRNewsfoto/Flagstar Bank, N.A.)","displaySize":"","headline":null,"caption":"Flagstar Bank, N.A. Logo (PRNewsfoto/Flagstar Bank, N.A.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":47,"url":"https://media.zenfs.com/en/prnewswire.com/dd53399b5f7ea6405b45bd5e536e2089"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cSxGma9JOIQXC1Vjb1Yadw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTgz/https://media.zenfs.com/en/prnewswire.com/dd53399b5f7ea6405b45bd5e536e2089","width":400,"height":47},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/_cMG1s3lLYN2pJRe6FPZPA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTc1/https://media.zenfs.com/en/prnewswire.com/dd53399b5f7ea6405b45bd5e536e2089","width":400,"height":47}},"href":"https://mma.prnewswire.com/media/2799307/Flagstar_Bank_NA_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Board of Directors has approved a one-year extension of Executive Chairman and Chief Executive Officer Joseph M. Otting's employment agreement in his role as CEO through March 6, 2028. This decision reflects the Board's confidence in his leadership, the Bank's return to profitability, and its commitment to ensuring stability and continuity, as...