GreenSky, an Atlanta-based home improvement lending platform, announced this week that longtime executive Tim Kaliban will retire as CEO this summer.
The company’s current president and chief operating officer, Ritesh Gupta, will succeed him on July 1.
Kaliban joined GreenSky as the company’s president and chief risk officer in 2012 before becoming CEO in 2024, succeeding the company’s cofounder David Zalik, according to their LinkedIn pages. Gupta joined the company in 2018 after stints at fintech firm CAN Capital and Capital One Bank.
“I have been incredibly fortunate to have worked very closely with Tim during my seven years at GreenSky — he has always been a great source of support to the leadership team and me,” Gupta said in a press release. “I wish Tim the very best on his well-earned retirement. As we look ahead, I am excited to build upon the strong position GreenSky is in and help us achieve greater success through the next chapter of the company.”
GreenSky offers a tech platform that allows businesses to quickly and easily offer promotional payment options to customers. The company generates most of its sales and profits from fees paid by the merchants and service providers. Its customers have included Home Depot, roofers, heating and air conditioning companies, health care providers and others.
Since its founding in 2006, nearly 6 million consumers have financed more than $50 billion through GreenSky’s technology, according to the company.
GreenSky went public in 2018, but Goldman Sachs acquired the company in 2022 for about $2 billion. Last year, the banking giant finalized a sale of GreenSky to a consortium of investors led by investment firm Sixth Street in a deal worth roughly $500 million, according to the Wall Street Journal, after Goldman decided to scale back its consumer business.
GreenSky declined to comment about the leadership transition.
The company has also faced controversy after merchants who used its platform took out loans on behalf of thousands of consumers who didn’t authorize them. In 2021, the Consumer Financial Protection Bureau issued a consent order requiring GreenSky to refund or cancel up to $9 million in loans for customers “harmed by its illegal conduct.” It also ordered the company to implement measures to prevent fraudulent loans and levied a $2.5 million fine.
GreenSky agreed to the order without admitting any liability or wrongdoing.
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