LendingClub chairman Morris to step down, Mayopoulos named successor

LendingClub Corporation (NYSE: LC) announced leadership changes affecting its board of directors and executive team, according to a company statement.

John C. Morris will resign from the board of directors on March 31, 2026, ending nearly 13 years of service. Morris currently serves as independent chairman of the board and sits on all board committees. The company stated his decision was not due to any disagreement with LendingClub.

Timothy J. Mayopoulos will assume the role of independent chairman effective April 1, 2026. Mayopoulos has served on the board since 2016 and brings experience in financial services leadership and governance.

Separately, Chief Risk Officer Annie Armstrong notified the company of her intent to resign from the executive role effective March 1, 2026. Armstrong will remain with the company in a non-executive capacity through March 31, 2026, to facilitate an orderly transition. The company stated her departure was not the result of any disagreement.

The company noted that Armstrong led enhancements to the risk function that supported its bank-charter initiative. Morris provided leadership during the company's business and financial transformation over his tenure.

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