CoreLogic announced it named James Balas as its new chief financial officer.
According to the company, Balas, who has been the company's senior vice president finance, controller and principal accounting officer since September 2012, assumes the role from Frank Martell. Martell, the company's chief operating officer since June 2014, has also been chief financial officer since August 2011.
"Jim is an accomplished executive with a proven track record in important financial leadership roles over the past 15 years. This appointment recognizes Jim's consistently strong leadership of our financial, treasury and accounting operations and the many important contributions he has made since joining us," said Anand Nallathambi, president and chief executive officer of CoreLogic.
"We are excited that Jim is assuming this important role and Frank and I both look forward to partnering with him as we pursue our strategic growth and operational excellence programs. These programs have produced compound annual growth rates for revenue, adjusted EBITDA and adjusted earnings per share of 9%, 15% and 31%, respectively since 2011," added Nallathambi.
As COO, Martell will resume leading CoreLogic's core operating segments as well as the company's enterprise data management, information technology and corporate development organizations. He will also offer direct oversight of the recently launched valuations solutions group which the company said it expected to be a strategically important long-term growth enabler.
"Frank's leadership, both operationally and financially, has been an important factor in our transformation into an industry leader with a consistent track record of driving growth and margin expansion and creating shareholder value. I believe Frank's business acumen and leadership will help us to ensure the success of the VSG which represents a unique and potentially transformative opportunity for all of our stakeholders,” said Nallathambi.
“In addition, I have asked Frank continue to lead our investor outreach to ensure continuity as we continue to expand and transform CoreLogic. I look forward to working closely with him as we continue to drive strategic growth, operational excellence and durable long-term stakeholder value creation,” concluded Nallathambi.
