On January 8, 2016, Ian Gilmour resigned as a member of the board of directors of IEG Holdings Corporation and will pursue other opportunities. Mr. Gilmour's decision to resign from the company's board of directors was not the result of any disagreement with the company on any matter relating to its operations, policies or practices. The board of directors appointed Harold A. Hansen, a member of the company's board of directors, to serve as Chairman of the audit committee following Mr. Gilmour's resignation.