On March 27, 2018, Jeffrey Eberwein notified the board of directors of Novation Companies, Inc. of his resignation from his position as the company's Executive Chairman effective immediately, and as a director of the company effective March 31, 2018. On March 27, 2018, the board appointed David W. Pointer to serve as the company's Chief Executive Officer, as a director and Chairman of the Board. Mr. Pointer has served on the Board of Directors of CompuMed, Inc., since December 2013 and as Chairman since October 2014, and as Co-Chief Executive Officer from November 2015 to January 2016.

Previously, Mr. Pointer served on the board of directors of ALCO Stores, Inc., from September 2014 to June 2015.