Oportun Financial (US:OPRT) Globenewswireยท2025-06-12 12:00Core Viewpoint - Oportun's Board of Directors emphasizes proactive measures taken to enhance long-term stockholder value and urges stockholders to vote for the re-election of CEO Raul Vazquez and Carlos Minetti using the GREEN proxy card [1][2][18] Board Actions and Strategy - The Board has conducted a comprehensive review of CEO Raul Vazquez's performance and unanimously concluded he is the right leader for the company [4] - A detailed plan was announced in February 2023 to reduce expenses and streamline operations, which included multiple reductions in force and the sale of the credit card portfolio [8][9][12] - Oportun has achieved $240 million in cost savings since mid-2022 and returned to GAAP profitability over the last two quarters [8][9] Financial Performance - The company executed a $439 million asset-backed securitization transaction with AAA-rated notes, achieving a 5.67% average yield, which was 128 basis points lower than previous financing [10] - The financial performance has shown continual improvement in 2024 and the first quarter of 2025, indicating a positive trajectory for the company [16] Board Composition and Expertise - The Board has appointed four new independent directors in the last 16 months and is reducing its size from 10 to 8 members to enhance focus and effectiveness [14][15] - The expertise of the Board members, including backgrounds in consumer finance regulation, operational excellence, and financial reporting, is aligned with the company's needs [13] Call to Action - Stockholders are strongly encouraged to vote for the company's nominees, emphasizing the importance of their votes and the need to discard any opposing proxy cards [19][20]