loanDepot, Inc. announced that Anthony Hsieh has stepped down as Executive Chairman, pursuant to a mutual agreement unanimously approved by LDI's Board of Directors. This action was in light of Hsieh's decision to run a proxy contest against LDI through his nomination of a director candidate outside of the governance process overseen by the Board's Nominating and Corporate Governance Committee. Hsieh will continue to serve as Chairman of the Company's Board of Directors.

Hsieh has submitted his nomination of a director candidate, Steven Ozonian.