Genworth Financial, Inc. has announced that Kelly L. Groh has resigned as executive vice president and chief financial officer.
These new changes will be finalised upon the completion of the company’s second quarter financial close process and related Form 10-Q filing, which is expected to occur in early August.
Tom McInerney, president and chief executive officer of Genworth commented on Groh’s resignation: “In her five years as CFO, Kelly’s guidance has been critical as we worked to improve our liquidity and overcome hurdles throughout the China Oceanwide transaction process. Kelly expressed a desire to step away from the company to be closer to her family on the west coast, and we have a transition plan in place that we believe creates a strong foundation for Genworth’s future.”
Succeeding Groh will be Dan Sheehan, Genworth executive vice president and chief investment officer, although she will remain with Genworth in an advisory role for a period of time to ensure the adjustment runs smoothly.
Sheehan has been with Genworth and its predecessor company for 22 years, where he served in leadership roles of increasing responsibility and building a proven track record of execution for the investments and risk teams. He will retain his role as CIO, where he’s spent the past 8 years, upon assuming the CFO role.
McInerney continued: “I am pleased that Dan, who has deep and extensive experience leading financial operations at Genworth, will assume the CFO role at this critical time for our company. In my experience, aligning investment operations under the CFO role is very effective, as it brings both sides of the balance sheet together under one comprehensive point of view. “
Additionally, Genworth will be appointing Brian Haendiges as executive vice president and chief risk officer from 8th September 2020.
Prior to establishing HAE Consulting, Haendiges had a nine-year career at MassMutual, where he most recently served as senior vice president and Head of US Pricing and Product Management from 2016 until 2019.
During his time at MassMutual, he led a team of actuarial and quantitative professionals to establish pricing and profitability for MassMutual’s US business portfolio, which included life insurance, disability, long term care, annuity, retirement, and new initiatives.
Previously, Brian served as Senior VP and Head of Retirement Services Investments between 2014-2016 and Head of Strategic Market Development of Investments between 2010-2014.