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Joan Lamm-Tennant Named Independent Chair of the Equitable Holdings Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Equitable Holdings has appointed Joan Lamm-Tennant as the new independent Chair of its Board of Directors, effective immediately. Lamm-Tennant, a director since January 2020, has significant industry and risk management expertise. She succeeds Ramon de Oliveira, who resigned due to communication issues unrelated to the company's operations. The company emphasizes its financial strength and stability, indicating positive prospects under Lamm-Tennant's leadership as it continues to enhance its ESG strategy and risk framework.
Positive
Joan Lamm-Tennant's appointment is expected to strengthen leadership with her significant industry and risk management expertise.
The company has demonstrated financial strength and stability as an independent entity.
Negative
Ramon de Oliveira's resignation raises questions about leadership continuity.
Equitable Holdings Board Director since January 2020, Lamm-Tennant brings significant industry, corporate governance and risk management expertise
NEW YORK--(BUSINESS WIRE)--
Equitable Holdings, Inc. (NYSE: EQH), a leading financial services company comprised of principal franchises Equitable and AllianceBernstein, today announced the appointment of Joan Lamm-Tennant as independent Chair of the Equitable Holdings Board of Directors, effective immediately. In addition, Ms. Lamm-Tennant was elected to the AllianceBernstein Board of Directors and appointed as independent Chair, effective immediately.
Ms. Lamm-Tennant has been a Director of the Equitable Holdings Board since January 2020, serving as a member of its Audit committee and Finance and Risk committee. During this time, she has been a valued member of the Board, advising the Company on its leading economic risk framework and helping to shape its ESG strategy and responsible investing approach.
“Joan assumes this Board leadership position at a pivotal moment for this great institution. Since becoming an independent entity, we have continued to demonstrate our financial strength and stability, and have consistently delivered on our commitments to stakeholders,” said Mark Pearson, Equitable Holdings President and Chief Executive Officer. “I look forward to partnering with Joan, a visionary leader with deep industry expertise, and the talented individuals across our boards as we write this next chapter for Equitable Holdings.”
Ms. Lamm-Tennant brings significant industry, risk management and capital advisory expertise to this position, having held several global business leadership roles. Most recently, she founded Blue Marble Microinsurance, a purpose-driven insurtech firm focused on providing innovative insurance products to global, underserved markets, and served as its CEO from 2015 to 2020. Prior to this, she was Head of Enterprise Risk Management and Global Chief Economist and Risk Strategist at Marsh & McLennan and its subsidiary, Guy Carpenter. Ms. Lamm-Tennant also held numerous leadership roles at General Reinsurance Corporation including President of General Re Capital Consultants.
Ms. Lamm-Tennant succeeds Ramon de Oliveira, who served as Chair of the Equitable Holdings and AllianceBernstein Boards since March 2019, when Equitable Holdings became an independent entity, during which time the companies delivered significant shareholder value in a challenging environment.
Mr. de Oliveira resigned after agreeing with the Company that he engaged in communications that were inconsistent with the Company’s standards. His departure is unrelated to the Company’s operations, financial integrity or controls.
About Equitable Holdings
Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $869 billion in assets under management (as of 6/30/2021) and more than 5 million client relationships globally.
Joan Lamm-Tennant has been appointed as the new independent Chair of the Equitable Holdings Board of Directors.
What was the reason for Ramon de Oliveira's resignation?
Ramon de Oliveira resigned after engaging in communications inconsistent with the company's standards, but this was unrelated to the company's operations or financial integrity.
What expertise does Joan Lamm-Tennant bring to her new role?
Joan Lamm-Tennant brings significant industry, risk management, and capital advisory expertise to her role as Chair.
What impact does Lamm-Tennant's appointment have on Equitable Holdings?
Lamm-Tennant's appointment is expected to enhance leadership and support the company's ongoing financial strength and ESG strategy.
