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First American Financial Corporation has cut ties with CEO Ken DeGiorgio weeks after he was arrested for allegedly choking a man on the dance floor of a cruise ship. In a statement Tuesday, the title giant said it had appointed Mark Seaton to lead the company.
In addition, Treasurer Matt Wajner was promoted to CFO and Dennis Gilmore, the chairman of the board, was named executive chair.
“We are looking forward to our next chapter under the strong leadership of Mark Seaton,” said Gilmore in a prepared statement. “No one is more ready to be our CEO than Mark, who has played a leading role in our most critical strategic initiatives, which are driving the digital transformation of our business. We want to thank Ken DeGiorgio for his many years of service to First American.”
Seaton has served as Chief Financial Officer since 2013. In addition to managing all financial-related activities, Seaton oversees First American Trust, the company’s federally charted bank, as well as First American’s technology group. Seaton joined First American in 2006.
The company also announced the promotion of Matt Wajner to CFO. Wajner, who joined First American in 2009, served as treasurer for the past five years and previously held the positions of chief accounting officer and controller.
“I’ve been a part of the First American family for nearly 20 years, and it’s an honor to serve the company as its CEO,” said Seaton. “We have celebrated many proud accomplishments during our 136-year history, but given our extraordinary people and unique competitive advantages, I firmly believe our best days are yet to come.”
The alleged assault occurred on March 31 aboard Virgin Voyage’s Resilient Lady, an adults-only cruise ship.
According to the FBI, the altercation started after DeGiorgio’s wife approached a man dancing barefoot at a cruise ship bar and asked him to put shoes on.
The man allegedly responded with a “crude remark” and was seen on security footage giving her the middle finger. Shortly after, DeGiorgio allegedly grabbed him by the neck and began choking him on the dance floor. The victim told authorities DeGiorgio threatened to kill him, a claim reportedly corroborated by surveillance video.
DeGiorgio was confined to his stateroom by the ship’s captain until the vessel arrived in Puerto Rico the following day.
Once docked, DeGiorgio reportedly declined to answer questions and requested legal counsel.
In a statement provided to HousingWire, DeGiorgio’s legal team rejected claims that he was the aggressor, stating: “Mr. DeGiorgio responded to the actions of an individual who harassed his wife, making her feel threatened and intimidated. Although charged with a simple misdemeanor, Mr. DeGiorgio looks forward to being absolved of any wrongdoing.”
He faces up to a year in prison on an assault charge.
