Navient restructures leadership with new CFO appointments

Navient Corporation (NASDAQ: NAVI) announced leadership changes effective immediately as part of a strategic restructuring of its operations.

Steve Hauber, previously executive vice president and chief administrative officer, has been appointed executive vice president and chief financial officer. In his new role, Hauber will oversee finance and accounting operations, capital markets and investor relations, while retaining responsibilities for legal, internal audit and corporate compliance functions.

Troy Standish, executive vice president and chief operating officer, will continue leading the company's education finance activities, including management of FFELP and private loan portfolios. Standish will also assume responsibility for technology and human resource operations.

The company has established a separate CFO position dedicated to Earnest, its fintech lending subsidiary, and is conducting a search to fill the role. This represents a move toward more independent operations between Navient and Earnest.

As part of the restructuring, current executive vice president and CFO Joe Fisher will depart the company during the first quarter after supporting the transition.

"These organizational changes reposition Navient and Earnest into more independent operations that better align capabilities with market growth opportunities," said David Yowan, president and CEO of Navient.

Hauber has been with the company since 2003 and previously held senior positions in risk management, compliance and internal audit. He holds business administration and accounting degrees from the University of North Carolina at Chapel Hill.

The information is based on a company press release.

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