CEO of Genworth Financial's Life Insurance Division to Resign

After more than six years with the company, including four years as CFO and the last year serving as executive vice president and CEO of Genworth Financial's (NYSE: GNW  ) U.S. life-insurance division, Patrick Kelleher has opted to resign, effective Dec. 31, the company announced today.

Genworth President and CEO Tom McInerney said he and Kelleher will work to "transition responsibilities" until a replacement is found.

Commenting on Kelleher's resignation, McInerney added, "We remain on track to achieve the 2013 goals and milestones for the U.S. Life Insurance division set out earlier this year and feel good about the strategic progress, financial position, and performance of the business, enabling a transition to a more significant business development and distribution focus."

Kelleher has worked with several insurance companies since 1980, leading up to his stint as CFO with Genworth from 2007 to 2011. He was then named to lead Genworth's insurance and wealth-management business units, a position Kelleher held until being named CEO of the U.S. life-insurance division last October.


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