Voya Financial, Inc. (NYSE: VOYA) has announced a leadership succession plan for Voya Investment Management and the appointment of a new head of investments. The company revealed that Christine Hurtsellers, CEO of Voya Investment Management, is set to retire in 2024, with Matt Toms, the current Global Chief Investment Officer, named as her successor. In addition, Eric Stein, former CIO of Fixed Income at Morgan Stanley Investment Management, has joined Voya Investment Management as the Head of Investments and Chief Investment Officer, Fixed Income.
Following this announcement, Voya Financial's stock experienced a -0.3% movement, with the current trading price at $71.39 per share.
Heather Lavallee, CEO of Voya Financial, expressed gratitude for Hurtsellers' leadership and highlighted her significant contributions to the company over the years. Lavallee mentioned, "I am thankful for having had the benefit of Christine's insights, drive and passion for our business, and I wish her and her family all the best as she begins her transition to retirement."
Lavallee also expressed confidence in the newly appointed leadership, stating, "I am excited to have Matt leading Voya IM as it executes on its growth strategy and continues to build on its strong pipeline across institutional and retail markets in the U.S. and internationally."
In response, Matt Toms expressed his honor in leading Voya IM and his excitement about the opportunities ahead. He also extended his gratitude to Christine for her leadership and guidance, emphasizing the smooth transition under her insights and perspective.
Eric Stein's appointment was also underscored as a significant addition to the Voya IM leadership team. Matt Toms expressed his excitement about having Stein's leadership and insights as the company executes its growth plans.
Voya Financial, Inc. is a leading health, wealth, and investment company with approximately 9,000 employees. The company is focused on helping its 14.7 million individual, workplace, and institutional clients achieve financial confidence and a more fulfilling life.
The full 8-K submission from Voya Financial, Inc. is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $7,161 | $7,478 | $7,649 | $4,230 | $5,922 | $7,076 |
| Revenue Growth | n/a | 4.43% | 2.29% | -44.7% | 40.0% | 19.49% |
| Interest Income (MM) | $221 | $176 | $159 | $186 | $134 | $132 |
| Operating Margins | 9% | 7% | 5% | 66% | 7% | 9% |
| Net Margins | 11% | -5% | -3% | 50% | 9% | 10% |
| Net Income (MM) | $762 | -$360 | -$206 | $2,126 | $510 | $697 |
| Earnings Per Share | $4.53 | -$2.64 | -$1.84 | $16.61 | $4.3 | $6.03 |
| Diluted Shares (MM) | 168 | 147 | 132 | 126 | 110 | 108 |
| Free Cash Flow (MM) | $1,868 | $1,310 | $1,362 | $22 | $1,352 | $1,493 |
| Current Ratio | 1538.0 | 1181.0 | 1502.0 | 1402.0 | 6.52 | 1.0 |
| Total Debt (MM) | $3,138 | $3,044 | $3,046 | $2,597 | $2,376 | $2,097 |
