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Martell Joins SmartRent as CEO

Ex-LoanDepot CEO goes to rental software industry

Frank Martell, who headed two major Irvine-based publicly traded companies, was announced as the new chief executive and president of SmartRent Inc., a Scottsdale, Arizona-based software provider for the rental housing industry.

Martell resigned earlier this month as CEO of LoanDepot Inc., one of the nation’s largest providers of mortgages. He previously spent over a decade at CoreLogic, serving as CEO and chief financial officer. SmartRent reported 2024 sales fell 26% to $174.9 million.

Martell has been a member of SmartRent’s board of directors and served on the board’s Audit and Nominating and Corporate Governance Committees since June 2024.

“Frank possesses a rare combination of strategic insight, operational discipline and innovative thinking – essential strengths as we work to increase platform adoption and scale our impact,” SmartRent Chairman John Dorman said in a statement.

Shares of SmartRent rose 2.2% to 90 cents and a $170 million market cap. (NYSE: SMRT). LoanDepot shares climbed 6.3% to $1.43 and a $470 million market cap.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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