Blucora is parent to TaxAct and Avantax Wealth Management, which was formed last year through the combination of the former HD Vest and the former 1st. Global. Clendening had been CEO since April 2016.
The announcement of Clendening’s departure triggered a dip in the company’s stock price which had law firms that handle class action securities litigation lining up to say they were investigating the performance of Blucora’s leadership. Walters will remain on the board, where he has served since 2014, but will step down as chair of the chair of the compensation committee.
Walters was previously a senior partner with Activate, a strategy consulting firm, from January 2019 through last month. He was CEO of Encompass Digital Media from January 2015 through November 2018.