F&G Annuities & Life Appoints Douglas Martinez to Board of Directors

Rhea-AI Summary

F&G Annuities & Life, Inc. (NYSE: FG) announced the appointment of Douglas Martinez as an independent director, effective immediately. This brings the Board of Directors to seven members, with three independent members. Chairman William P. Foley II emphasized that Martinez's leadership experience will enhance operational expertise and support F&G's growth initiatives, aimed at increasing profitability and shareholder value. Martinez boasts 38 years of executive leadership in various organizations, including serving as CEO and COO in notable companies. His extensive background is expected to contribute to F&G's strategic leadership and expansion efforts.

Positive

• Appointment of Douglas Martinez as independent director enhances board expertise.
• Martinez has significant leadership experience beneficial for operational strategy.
• Strengthened independent member presence on the board supports diverse perspectives.

Negative

• Concerns about continuity and potential experience gaps in strategic leadership.

DES MOINES, Iowa, April 3, 2023 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) ("F&G" or the "Company"), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today announced the appointment of Douglas Martinez as an independent member of F&G's Board of Directors, effective immediately. Following this appointment, F&G's Board of Directors is now comprised of seven members, including three independent members.

William P. Foley, II, Chairman, commented, "We are excited to welcome Doug to the F&G Board.  We believe his considerable leadership experience across a variety of operations, sales and finance management roles will provide F&G with comprehensive and constructive operational expertise.  This will benefit Chris and team as they pursue F&G's growth initiatives designed to drive increasing profitability, earnings, and returns, which we believe will result in increasing value for our shareholders over time."

Chris Blunt, President and Chief Executive Officer of F&G, added, "Doug is a valuable addition to our Board, which now includes three independent members offering distinct perspectives. Doug's extensive background and skill set has been instrumental in revenue growth and M&A transactions during his tenure with several global organizations.  Further, Doug bolsters the experience set of our Board, while contributing significant strategic leadership as we execute upon the many opportunities ahead of us to further expand our business and unlock the value of our Company in the public markets."

Mr. Martinez has 38 years of senior executive leadership experience in the positions of CEO, COO, and Executive Vice President for several successful private and public corporations. Specifically, Mr. Martinez has been instrumental in building several large enterprises such as American Standard Inc., Price Pfister Pfaucets (A Black and Decker Company), RSI Home Products, and Cross Section Ventures, Inc. Most recently and through 2019, Mr. Martinez served as President and Chief Executive Officer for Christian Community Credit Union, a nationally regulated non-profit banking institution with over 30,000 members. Presently, Mr. Martinez is the Chairman and CEO of Cross Section Capital, a privately held institution with a focus on Mergers & Acquisitions that also provides an array of traditional investment banking services.

About F&G
F&G Annuities & Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are not related to present facts or current conditions or that are not historical facts, as well as statements that address activities, events, or developments that F&G anticipates will or may occur in the future. You can identify forward-looking statements by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "predict," "project," "seek," "outlook," "future," "will," "would," "should," "could," "may," "can have," "likely" and similar terms. Forward-looking statements include statements based on management's current expectations and assumptions about future events. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond F&G's control, that could cause actual results to differ materially from those in or implied by the forward-looking statements. Factors that may cause such differences include the risks and uncertainties described in F&G's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release. F&G disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, changes in assumptions or otherwise.

Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
515.330.3307
Investor.relations@fglife.com

 

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SOURCE F&G Annuities & Life, Inc.

FAQ

Who was appointed to F&G's Board of Directors on April 3, 2023?

Douglas Martinez was appointed as an independent member of F&G's Board of Directors.

What experience does Douglas Martinez bring to F&G?

Douglas Martinez has 38 years of executive leadership experience, including CEO and COO roles in various companies.

How will Douglas Martinez's appointment impact F&G's growth initiatives?

Martinez's leadership is expected to enhance operational expertise and support F&G's strategies for increasing profitability.

What is the current composition of F&G's Board of Directors?

F&G's Board now consists of seven members, including three independent members.