SAN FRANCISCO–(BUSINESS WIRE)–Doma, a leading force for disruptive change in the real estate industry, today announced that Sharda Cherwoo, Maxine Williams, and Serena Wolfe will be nominated to its Board of Directors in connection with the closing of its previously announced business combination, marking an important step in diversifying the leadership that is guiding Doma through sustained and accelerating growth. With a clear path to market share gains and a differentiated, technology-first vision for creating a better, faster, and more affordable residential real estate closing experience, Doma will benefit from a Board of Directors with broad perspectives, varied professional backgrounds, and additional female leadership. The three women are expected to join an already exceptionally strong Board that includes Matt Zames, Lawrence H. Summers, Karen Richardson, Stuart Miller, Charles Moldow, and Max Simkoff, each of whom is expected to continue serving upon completion of the business combination. Today’s announcement comes on the heels of Doma entering into a business combination agreement in March 2021 with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U) (“Capitol”), a publicly traded special purpose acquisition company.
Ms. Williams is the Chief Diversity Officer at Facebook, where she focuses on developing strategies for the integration of diverse perspectives and experiences into the building of products, development of policies, and creation of programming to fulfill Facebook’s mission of making the world more connected. Maxine is a member of Facebook’s leadership team and reports directly to the COO. She also serves as director on the board and member of the Governance, Nomination, and Remuneration Committee of the Massy Group, an investment holding / management company with three main investment portfolios: Integrated Retail, Gas Products and Motors & Machines. The Group employs over 12,000 people in nearly 60 companies across the Caribbean and Latin American region. Ms. Williams’ wealth of global experience – in transformative technology and in transforming companies’ culture and talent base – would greatly enhance Doma’s Board of Directors.
“As Doma approaches a monumental turning point in its journey as a company, I’m thrilled to join the team of leaders helping them navigate the overhaul of an extremely outdated industry while also providing guidance on how to scale their team and product at a remarkable pace,” said Williams. “Machine learning has become a critical tool for success in today’s market, and I’m excited at the prospect to serve on a board committed to applying that tech to improving the home buying experience for every single homebuyer—whether this is their first home or not.”
Currently Chief Financial Officer at Annaly Capital Management, Inc., a leading diversified capital manager in the mortgage REIT sector, Ms. Wolfe previously held a variety of roles across industries during her 22-year career at Ernst & Young LLP (EY), including as Partner and serving as Global RHC Assurance Leader and U.S. Central Region Real Estate Hospitality & Construction (RHC) leader. EY’s RHC practice has the largest integrated real estate practice of any global accounting organization. Ms. Wolfe is a Certified Public Accountant in California, Illinois, New York and Pennsylvania, and received a Bachelor of Commerce in Accounting from the University of Queensland, Australia.
As Doma’s expected nominee for Audit Chair, Ms. Wolfe’s depth of financial expertise in the real estate sector, combined with her experience as CFO of a public company, will enhance the acumen and oversight of the company’s financial and governance best practices. Ms. Wolfe’s breadth of experience and accomplishment relatively early in her career would open another aperture of perspective to an increasingly diverse Board of Directors at Doma.
“As a society, we’ve evolved past paper-first real estate transactions, and Doma not only understands that, but is leading the digital transformation of title and escrow,” said Wolfe. “The company is uprooting a process that is ripe for disruption, and I look forward to the prospect of helping build strong processes and structure as Doma’s nominated Audit Chair, while the team capitalizes on accelerating momentum to achieve all of our goals as a public company. With the Board and Management’s incredible combination of diverse perspectives and broad expertise, I am eager to see what we can unlock together.”
Ms. Cherwoo retired as a Partner from Ernst & Young LLP (EY), where she worked for more than 35 years, serving dozens of companies in client service roles with the firm’s audit, tax, mergers and acquisitions, and management consulting practices. During her time at EY she held various leadership roles, including Intelligent Automation Leader, Private Equity Senior Advisory Partner and Director of Tax Operations for EY’s Americas Region. In these positions, she has also spearheaded several major organizational innovations, including EY’s own digital transformation and the founding of EY’s Global Shared Services operations, which proved to be instrumental in expanding global talent and driving business growth. She is also known for her passion around mentoring promising young talent, advising seasoned executives, and promoting innovative, outcome-driven strategies and programs.
Following her career at EY, Ms. Cherwoo has become increasingly active in corporate and not-for-profit governance. She is a member of the board of directors of World Fuel Services Corp., a publicly traded energy, commodities and services company, serves as a member of the advisory board of Land O’Lakes Inc., a member-owned agricultural cooperative, is a member of the board of directors of Tax Analysts, a non-partisan, non-profit publisher, and a member of the board of trustees of the International House of New York. Having worked with so many companies across various industries over the span of her career, Ms. Cherwoo is well positioned to provide the Doma team with a unique perspective on a broad array of market and operational scenarios and would be a strong addition to the public company Board of Directors.
“Consumers today expect an Amazon-like experience in every aspect of their lives, and that is exactly what Doma is proving when it comes to the home closing experience,” said Cherwoo. “As someone who has worked with financial services companies for more than two decades, I understand firsthand how process innovation and embracing technology can drastically improve the customer experience and drive sustained efficiencies. I’m thrilled at the prospect of joining Doma’s incredible Board of Directors at such an exciting time in the company’s evolution, and I’m looking forward to help it make strides in transforming the real estate industry.”
“These three women humble me with their combined expertise. Their joining the board would bring Doma closer – sooner – to our vision of providing current and prospective homeowners, lenders, title agents, and real estate professionals with a seamless closing experience,” said Max Simkoff, CEO of Doma. “As we near the beginning of our journey as a public company, and while we continue to experience tremendous growth, a board of this caliber would provide the diversity of perspective we need to continually innovate, execute, and make our company a desirable place to work.”
Capitol expects to nominate Mmes. Cherwoo, Williams, and Wolfe, in addition to Doma’s existing board members, for election at a meeting of Capitol’s stockholders to be held in connection with the approval of the business combination. Such an election would be effective upon the consummation of the business combination, at which point Capitol would be renamed Doma Holdings, Inc.