AAMC - Altisource Asset Management terminates CEO Indroneel Chatterjee 'for cause'

On April 16, 2021, Altisource Asset Management Corporation's (AAMC) board terminated the Company’s CEO, Indroneel Chatterjee, for cause, effective immediately, for violations of the Company’s Equal Employment Opportunity, Prevention Against Harassment, and Conduct on the Job Policies.Under Mr. Chatterjee’s employment agreement, he was also deemed to have simultaneously resigned from his positions as Chairman of the Board and a director of the Company, and the Board accepted his resignations.The Board will commence a search for its next CEO and has appointed Mr. Thomas K. McCarthy as interim CEO during the search period. "This is an unfortunate situation, but we believe we have taken the appropriate action based on the findings of the independent inquiry," says Governor John de Jongh, who became interim Chairman of the Board for the duration of the CEO search period.

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Altisource Asset Management terminates CEO Indroneel Chatterjee 'for cause'