Genworth Financial appoints new board member

RICHMOND - Genworth Financial, Inc. (NYSE: GNW) has expanded its Board of Directors with the addition of Steven C. Van Wyk, effective as of today. The former Group Chief Information Officer for HSBC Bank PLC joins as an independent director, bringing the total number of board members to 10. Van Wyk’s election will be formalized at the company’s Annual Meeting of Stockholders on May 22, 2025. The company’s subsidiary, Enact Holdings (NYSE: ACT), currently valued at $5.15 billion in market capitalization, maintains strong financial metrics with a 78.6% gross profit margin and trades at a P/E ratio of 7.7x.

With a background that includes key technology leadership roles at HSBC, PNC Bank, ING Bank, ING Insurance, and Morgan Stanley, Van Wyk is expected to contribute his deep expertise in technology and business transformation to Genworth’s strategic and operational oversight. His appointment is part of Genworth’s ongoing efforts to enhance its service offerings and implement new AI and digital technologies.

Melina Higgins, non-executive Chair of the Genworth Board, praised Van Wyk’s addition, noting his potential to bolster the company’s commitment to delivering shareholder value. Genworth President and CEO Tom McInerney echoed this sentiment, highlighting the importance of Van Wyk’s technical acumen in the company’s mission to assist families in managing the complexities of aging.

Genworth Financial, headquartered in Richmond, Virginia, is a Fortune 500 company specializing in providing families with guidance and solutions for long-term care. Its subsidiary, Enact Holdings, Inc. (Nasdaq: ACT), is a prominent player in the U.S. mortgage insurance market.

The company’s forward-looking statements, as disclosed in the press release, are subject to various risks and uncertainties which could cause actual results to differ from those projected. Genworth does not undertake an obligation to update these statements in light of new information or future events.

This news article is based on a press release statement from Genworth Financial, Inc.

In other recent news, Alchimp Group AG reported its Q4 2024 earnings, highlighting a mixed performance. The company achieved an earnings per share (EPS) of $1.09, surpassing the forecast of $1.04, while its revenue fell short at $301.77 million against the expected $309.37 million. Despite the revenue miss, Alchimp Group AG reported record sales of €554 million for the year, with its specialty chemicals segment contributing significantly to this achievement. The company also announced a proposed dividend increase of 50% to €1.8 per share.

Meanwhile, Enact Holdings, Inc. appointed H. Elizabeth Mitchell as an independent director to its Board of Directors. Mitchell’s appointment is effective immediately, and she will also serve on the Audit Committee. In addition to these changes, Anne G. Waleski will not seek re-election at the upcoming Annual Shareholder Meeting, resulting in a temporary expansion of the board from eleven to twelve directors. These developments reflect ongoing strategic adjustments within the company.

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