Rocket Companies is expanding its board of directors to include the
The addition pushes the number of members from seven to eight directors, an SEC filing published Thursday said. Krishna will serve as a Class III director for a term expiring at the company's 2026 annual meeting of stakeholders or until a successor is elected. The change is effective Dec. 21, 2023.
Krishna, who started his tenure at Rocket in July, joins Dan Gilbert, founder of Rocket. and Bill Emerson, president of the company, who also are members of the board.
The decision to have Krishna run Rocket Companies suggests the mortgage giant is pushing to brand itself as an automation-based business, and his placement on the board solidifies his influence.
"We believe this further confirms that Rocket views itself as a technology company focused on fundamentally changing how mortgages are originated," wrote Bose George, Alexander Bond, and Thomas McJoynt-Griffith of Keefe, Bruyette & Woods in a research note in July. "The company has been successful in doing so in the refi market, and continues to work on developing solutions for the purchase market."
Since Krishna's promotion, Rocket has been actively pushing to implement artificial intelligence in its systems.
In November, the company announced the launch of an AI chat interface in a
The
Prior to joining Rocket, the company's CEO worked at Intuit Inc.,where he was general manager of the consumer group responsible for its suite of tax products, and from 2014 to 2015, he was the senior director of product at PayPal, where he helped manage the fintech's global consumer offerings.
