Aflac Inc., the largest seller of supplemental health insurance, hired Frederick J. Crawford as chief financial officer, replacing Kriss Cloninger.
Crawford joins from CNO Financial Group Inc., where he was CFO, Columbus, Georgia-based Aflac said Wednesday in a statement. Cloninger had been CFO since 1992 and will remain with the company as president, working closely with Crawford.
Chairman and Chief Executive Officer Dan Amos, 63, has brought on a new generation of leaders at Aflac. In 2013, he gave his son, Paul Amos, expanded duties for Japan operations and investments. Hiroshi Yamauchi was promoted last year to president of Aflac Japan, the company’s biggest market.
“Fred’s appointment emphasizes our continued focus on disciplined financial management and our ongoing commitment to building a leadership team to enable us to achieve our long-term growth aspirations,” Dan Amos said in the statement.
Crawford worked to redeem high cost debt and repurchased stock since joining CNO in early 2012 from Lincoln National Corp. CNO shares more than doubled during his tenure at the company. Last year, the company was upgraded by Standard & Poor’s after selling a life insurance unit to reduce volatility.
CNO Chief Accounting Officer John Kline and Erik Helding, the senior vice president of treasury and investor relations, will oversee financial operations on an interim basis as the insurer looks for a new CFO, the company said in a separate statement. Carmel, Indiana-based CNO said its search will include internal and external candidates.