Genworth Financial, Inc. (NYSE: GNW) announced a leadership transition effective January 1, 2027. Thomas J. McInerney, the company’s President and Chief Executive Officer, will retire from both his executive role and the Board of Directors on December 31, 2026. The company stated that Mr. McInerney’s retirement is not the result of a disagreement regarding the company’s operations.
Jerome T. Upton, currently the company’s Chief Financial Officer, has been appointed as President and Chief Executive Officer. Mr. Upton will also be elected to the Board of Directors to fill the vacancy created by Mr. McInerney’s departure. Mr. Upton has been with Genworth since 1998 and has served as CFO since March 2023. He previously served as Interim CEO from July 7, 2026, to September 2, 2026, while Mr. McInerney was on a medical leave of absence.
Angela R. Simmons will be appointed as Executive Vice President and Chief Financial Officer effective January 1, 2027. Ms. Simmons, age 53, has been with Genworth since 2002. Prior to her current role as CFO of the Closed Block businesses, she served as Controller for the U.S. Life Insurance business and led the SEC Reporting function for more than a decade.
The company noted that it expects to approve new compensation terms for Mr. Upton and Ms. Simmons at a later date and will disclose those details by an amendment to the current report.
