Blucora Announces Departure of CEO John Clendening

Company anticipates naming a new CEO by end of January
Company has established the Office of the CEO to lead the Company and report to Oversight Committee of the Board of Directors prior to its new CEO joining IRVING, Texas, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ: BCOR), a leading provider of tax-smart financial solutions that empower peoplea??s goals, today announced that President and Chief Executive Officer John Clendening has departed his roles as executive and member of the Board of Directors. The Company anticipates announcing a new CEO by the end of January 2020.a??Ia??m proud of all that our team has accomplishedA and theA significantA value it has delivered for customers, advisors and shareholders during the past four years,a?? Clendening said. a??Our results speak for themselves, with significant improvement in our financial performance. The markets have recognized this progress, with the stock increasing in value by nearly 400% from less than $5 to yesterdaya??s close. Blucora has an exciting vision and the team to deliver results. I wish nothing but the very best for the Company, its employees and its customers, and Ia??ll always be grateful for my time leading the firm.a??To ensure a smooth transition for the Company and its employees, advisors and customers, Blucora has established an interim Office of the CEO, comprised of Executive Leadership Team members Enrique Vasquez, Curtis Campbell,A Todd Mackay and Ann Bruder, which will lead the company and report to an Oversight Committee of the Companya??s Board of Directors. Vasquez will continue to oversee the wealth management business, and Campbell will continue to oversee the TaxAct business as it drives toward another successful tax season. Mackay will oversee the closing of the HK Financial Services (HKFS) acquisition, as well as spearhead the operational improvements of Avantax Wealth Management (AWM) and continue to lead business operations, and Bruder will oversee certain administrative and staff functions during the interim period.
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