RICHMOND, Va., June 19 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) today announced several key leadership and organizational shifts
in order to enhance growth, improve competitiveness and simplify operations.
Genworth's U.S. Mortgage Insurance segment, led by Kevin Schneider, will
now report directly to Chairman and Chief Executive Officer Michael D.
Fraizer. Executive Vice President Tom Mann will concentrate on leading the
"Kevin and his organization have kept a clear focus on executing our
strategy and positioning the business for the future -- all while mitigating
risk during a difficult industry transition," said Fraizer. "I'm equally
excited about Tom's proven leadership and the opportunities we have to
selectively expand our international business operations and product
Mark Griffin, senior vice president and chief investment officer, will
leave the company to pursue other career interests. Dan Sheehan, senior vice
president of Portfolio Management, will serve as acting chief Investment
officer. Sheehan, a Harvard University graduate, has served in multiple
investment and risk management capacities at Genworth and its predecessor
companies since 1987.
In addition, Vic Moses, 60, senior vice president for Actuarial and Risk,
will retire on October 1, 2008. "We thank Vic for his many contributions
during his distinguished 25-year career," said Fraizer. "He has provided
advice, counsel and invaluable insurance expertise to me and the broader
The actuarial function will now report to Pat Kelleher, senior vice
president and chief financial officer. The risk management function will
report to the CEO.
Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500
global financial security company. Genworth has $114 billion in assets and
employs approximately 7,000 people in 25 countries. Its products and services
help meet the investment, protection, retirement and lifestyle needs of over
15 million customers. Genworth operates through three segments: Retirement
and Protection, International and U.S. Mortgage Insurance. Its products and
services are offered through financial intermediaries, advisors, independent
distributors and sales specialists. Genworth Financial, which traces its
roots back to 1871, became a public company in 2004 and is headquartered in
Richmond, Virginia. For more information, visit genworth.com.
SOURCE Genworth Financial, Inc.
CONTACT: Media, Al Orendorff, +1-804-662-2534, email@example.com,
or Investors, Alicia Charity, +1-804-662-2248, firstname.lastname@example.org,
both of Genworth Financial, Inc.
Web site: http://www.genworth.com