Genworth Announces Election of New Independent Board Member
RICHMOND, Va., Dec. 5, 2012
RICHMOND, Va., Dec.5, 2012 /PRNewswire/ --Genworth Financial, Inc.
(NYSE:GNW) announces that it has elected David M. Moffett as a new independent
Moffett, 60, retired as chief executive officer and a director of the Federal
Home Loan Mortgage Corporation (Freddie Mac) in March 2009. Before arriving
at Freddie Mac in September 2008, Moffett served as a senior advisor with the
Carlyle Group LLC from May 2007-September 2008. He is also a former vice
chairman and chief financial officer of U.S. Bancorp and Firstar
Corporation.Moffett has been a director at eBay Inc. since July 2007 and at
CIT Group, Inc. since July 2010. He also previously served on the boards of
directors of MBIA Inc., The E.W. Scripps Company and Building Materials
"As Genworth continues to execute its strategy of rebuilding value for
shareholders, we believe David's extensive experience and perspectives will
provide invaluable insights," said James S. Riepe, Genworth non-executive
chairman of the board.
Moffett holds a Bachelor of Arts degree in Economics from the University of
Oklahoma and an MBA from Southern Methodist University. Moffett's election to
Genworth's board of directors increases the size of the board from seven to
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance
holding company dedicated to helping people secure their financial lives,
families and futures. Genworth has leadership positions in offerings that
assist consumers in protecting themselves, investing for the future and
planning for retirement – including life insurance, long term care insurance,
financial protection coverages, and independent advisor-based wealth
management – and mortgage insurance that helps consumers achieve home
ownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,300 employees and operates through three
divisions: Insurance and Wealth Management, which includes U.S. Life
Insurance, Wealth Management and International Protection segments; Global
Mortgage Insurance, which includes U.S. and International Mortgage Insurance
segments; and the Corporate and Runoff division. Its products and services are
offered through financial intermediaries, advisors, independent distributors
and sales specialists. Genworth Financial, Inc., which traces its roots back
to 1871, became a public company in 2004 and is headquartered in Richmond,
SOURCE Genworth Financial, Inc.
Contact: Al Orendorff (U.S.), 1-804-662-2534, Al.email@example.com,
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