CARMEL, Ind., May 16, 2017 /PRNewswire/ -- CNO Financial
Group, Inc. (NYSE: CNO) today announced its Chief Executive Officer
Edward J. Bonach, 63, will retire
from that position and from the Board of Directors effective
December 31, 2017. CNO's Board
of Directors has unanimously elected current President Gary Bhojwani, 49, to succeed Bonach as Chief
Executive Officer on January 1, 2018.
Bhojwani will join the Board effective immediately, and will
continue as CNO's President throughout the transition.
"It's been an incredible privilege and honor to serve this great
company for over 10 years—with almost six years as its CEO—and work
with the many talented leaders, associates and agents who
successfully serve the needs of our customers every day," said
Bonach. "Together we've enhanced shareholder value, extended our
customer reach, and delivered strong financial and operational
performance. After much thought, with the company well-positioned
for future success and with great confidence in Gary's proven
leadership and experience, I've decided it's the right time for me
to announce my retirement."
Bonach joined CNO Financial Group as Chief Financial Officer in
2007 from National Life Group, where he served as executive vice
president and chief financial officer. Before joining National Life
in 2002, he was with Allianz Life Insurance Company of North America for 23 years, where his
positions included President – Reinsurance Division and Chief
Financial Officer.
"Ed's accomplishments over the past 10 years at CNO are
immeasurable," said Neal Schneider,
Chairman of the Board. "He has successfully increased shareholder
value, delivered strong profitability, and has been unwavering in
his commitment for CNO to be the leader in meeting the needs of
middle-income Americans for financial security and readiness for
the life of their retirement. He's leaving CNO a strong, thriving,
focused and profitable insurance enterprise. We're also pleased
that Gary is well-positioned to seamlessly fill the CEO role, as
CNO continues to expand and fulfill its vision."
"I'm tremendously excited for this opportunity," Bhojwani added.
"I strongly believe that CNO is uniquely qualified to meet the
needs of the middle-income market, our people are extremely
talented, and our future is bright. I look forward to working
closely with our leaders, associates, agents and our Board to
successfully deliver on our strategy to meet the needs and
expectations of our customers, our shareholders, and our
communities."
Bhojwani joined CNO Financial Group in 2016. He served as a
member of the Board of Management at Allianz SE, Chairman of
Allianz of America, Allianz Life Insurance Company, and Fireman's
Fund Insurance Company from 2012 to 2015. From 2007 to 2012, he
served as President and CEO of Allianz Life Insurance Company of
North America.
About CNO Financial Group
CNO Financial Group, Inc.
(NYSE: CNO) is a holding company. Our insurance subsidiaries
– principally Bankers Life and Casualty Company, Colonial Penn Life
Insurance Company and Washington National Insurance Company –
primarily serve middle-income pre-retiree and retired Americans by
helping them protect against financial adversity and provide for a
more secure retirement. For more information, visit CNO
online at www.CNOinc.com.
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SOURCE CNO Financial Group, Inc.