Novation Companies, Inc. announced that W. Lance Anderson delivered notice of his resignation to the Board of Directors, effective Friday, Aug. 14, 2015, retiring after nearly 20 years with the company. Novation announced that Rodney Schwatken, Novation's senior vice president and chief financial officer, has been promoted to chief executive officer.

Schwatken will also continue to serve as chief financial officer for the immediate future. Rodney Schwatken has served as senior vice president and chief financial officer of Novation since Jan. 3, 2008, and has been with Novation since 1997.