July 6, 2011 – (Reuters) - Lender Processing Services Inc <LPS.N> said its Chief Executive Jeffrey Carbiener resigned due to medical reasons and would be replaced in the interim by Lee Kennedy, its executive chairman.
The mortgage processing services provider said its board had established a committee to search for a replacement.
Kennedy, who was the executive chairman and CEO of LPS's former parent Fidelity National Information Services, will remain the executive chairman, the company said in a statement.
Carbiener has agreed to serve in an advisory capacity, at a time when LPS is facing various faces various legal and regulatory issues over its alleged role in wrongful foreclosure practices.
Shares of the Jacksonville, Florida-based company were down 5 percent at $19.50 in trading after the bell. They closed at $20.54 on Wednesday on the New York Stock Exchange.
(Reporting by Jochelle Mendonca in Bangalore)