Genworth Financial has announced a leadership transition at the top of the company, naming Jerome Upton as its next president and chief executive officer. Upton, currently the company’s chief financial officer, will take over on 1 January 2027, when current president and CEO Thomas J. McInerney retires.
The Richmond, Virginia-based insurer announced the changes on Friday, 30 October, in a regulatory filing and company statement. McInerney will retire as president and CEO and step down from the board of directors effective 31 December 2026.
FAKTA
- Outgoing CEO: Thomas J. McInerney retires as president and CEO on 31 December 2026 and leaves the board.
- Incoming CEO: Jerome Upton, currently chief financial officer, becomes president and CEO on 1 January 2027 and joins the board.
- New CFO: Angela Simmons, currently chief financial officer of Genworth’s Closed Block, becomes executive vice president and CFO on 1 January 2027.
- Upton’s record: With Genworth and its predecessors since 1998; CFO since March 2023; interim president and CEO from 7 July to 2 September 2026.
- Company: Genworth Financial, Inc. (NYSE: GNW), headquartered in Richmond, Virginia.
A planned handover
According to the filing, McInerney’s retirement is not the result of any disagreement with the company over its operations, policies or practices. The board expects to name Upton as president and CEO and appoint him to the board when the transition takes effect.
Upton has been with the company and its predecessors since 1998 and has served as Genworth’s chief financial officer since March 2023. He already knows the top job: he served as interim president and CEO from 7 July to 2 September 2026, during McInerney’s medical leave of absence. He will also serve as principal accounting officer on an interim basis from early November 2026.
Simmons to become CFO
Angela Simmons, currently chief financial officer of Genworth’s Closed Block, is expected to become executive vice president and chief financial officer on 1 January 2027. Compensation terms for Upton and Simmons in their new roles have not yet been set and will be disclosed in a later filing.
McInerney has led Genworth since 2013. He took a leave of absence in early July to focus on his health, during which Upton stepped in as interim head, before returning to day-to-day responsibilities on 2 September.
Conclusion
With a long-serving insider taking the helm and a new finance chief in place, Genworth’s board has chosen continuity for its next chapter. The transition takes effect at the turn of the year.
