MBIA Inc. (NYSE: NYSE:MBI), a leading financial services company, announced today that its Executive Vice President and Chief Financial Officer, Anthony McKiernan, will be leaving his role. Effective April 30, 2024, McKiernan will step down and also resign from all other positions within the company. The current Controller, Joseph Schachinger, is set to take over as CFO on the same date.
Bill Fallon, CEO of MBIA, expressed his gratitude for McKiernan's contributions, highlighting his role in addressing significant challenges faced by the company. "We will miss Anthony and wish him great success in his future pursuits," Fallon remarked. "Anthony has made tremendous contributions to MBIA and his leadership has been integral to the company successfully navigating its key challenges."
Joseph Schachinger, who has been with MBIA since 2000, brings a wealth of experience to his upcoming role as CFO. Prior to his position as Controller, which he has held since May 2017, Schachinger served as Deputy Controller starting in 2009. His long tenure with the company and deep understanding of its financial operations position him as a suitable successor to McKiernan.
The transition comes at a time when MBIA continues to navigate the complexities of the financial services industry. Schachinger's background and experience within the company are expected to provide continuity and stability in the company's financial leadership.
This announcement is based on a recent SEC filing, which provides official confirmation of the executive changes at MBIA. Investors and stakeholders in the company will likely watch the transition closely, as financial leadership is critical to MBIA's ongoing operations and strategy.
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