SEC Announces Departure of Corporation Finance Division Director Erik Gerding

The Securities and Exchange Commission today announced that Erik Gerding, Director of the Division of Corporation Finance, will depart the agency effective Dec. 31, 2024. Upon Mr. Gerding's departure, Cicely LaMothe will serve as Acting Director.

"I want to thank Erik for his leadership of the Division of Corporation Finance," said SEC Chair Gary Gensler. "During his time of service, we've adopted important reforms regarding corporate governance to better promote trust in the markets. We've adopted important reforms to enhance investors' access to full, fair, and truthful information, a founding principle of our securities laws. I wish him very well in his next pursuits. I also want to thank Cicely for stepping up as Acting Director and for being a longstanding leader within the Division."

Mr. Gerding joined the SEC in October 2021 as a Deputy Director of the Division of Corporation Finance, where he led Legal and Regulatory Policy. He became the Division's Director in February 2023. In that role, Mr. Gerding led the Division as it recommended rules to the Commission on climate-related disclosures for investors; cybersecurity risk management, strategy, governance, and incident disclosure by public companies; and special purpose acquisition companies. During his tenure, the Division also implemented new or updated rules on beneficial ownership reporting, universal proxy, listing standards for clawbacks of erroneously awarded compensation, conflicts of interest in securitizations, "pay versus performance" executive compensation disclosures, and Rule 10b5-1 plans regarding when insiders can sell their shares.

"I am so proud to have served alongside the talented staff of the Division and the Commission who worked devotedly to fulfill our statutory mandate during some the most dynamic changes in capital markets in decades," said Mr. Gerding. "My thanks to the Chair and the Commission for the trust they have placed in me and the support they have shown to the Division. I am humbled to have been a part of what I view as the crown jewel of the agency."

Mr. Gerding previously taught as Professor of Law and a Wolf-Nichol Fellow at the University of Colorado Law School, where he focused in the areas of securities law, corporate law, and financial regulation. He also taught at the University of New Mexico School of Law and practiced in the New York and Washington, D.C., offices of a large international law firm, where he represented clients in the financial services and technology industries in an array of financial transactions and regulatory matters. He received an undergraduate degree from Duke University and a J.D. from Harvard Law School.

Cicely LaMothe currently serves as Deputy Director, Disclosure Operations for the Division of Corporation Finance. She previously was the Program Director of the Disclosure Review Program, Associate Director of the Office of Assessment and Continuous Improvement, and Associate Director of Disclosure Operations. In 2020, Ms. LaMothe received the Chairman's Award for Excellence in recognition of her work on the SEC Diversity Council to support the Commission's diversity and inclusion efforts. Before coming to the SEC, Ms. LaMothe worked for six years in the private sector, including as the financial reporting manager for a public company and as a senior associate with a national accounting firm. Ms. LaMothe earned her bachelor's degree in accounting from Hampton University and is a licensed Certified Public Accountant.