MBIA (MBI) Announces CFO Separation

MBIA (NYSE: MBI) announced today that on March 7, 2024 the Company (together with its subsidiaries) entered into a Separation Agreement with its Executive Vice President and Chief Financial Officer, Mr. Anthony McKiernan (the “Separation Agreement”). Under the Separation Agreement, effective April 30, 2024 Mr. McKiernan will step down from his position as Chief Financial Officer and will resign from all of his other positions with the Company. Bill Fallon, MBIA’s Chief Executive Officer stated, “We will miss Anthony and wish him great success in his future pursuits. Anthony has made tremendous contributions to MBIA and his leadership has been integral to the company successfully navigating its key challenges.”

Mr. Joseph Schachinger, currently the Company’s Controller, will replace Mr. McKiernan as Chief Financial Officer effective April 30, 2024. Prior to being named Controller in May of 2017, Mr. Schachinger served as Deputy Controller since 2009. Mr. Schachinger joined the Company in 2000 as a Vice President in the Controller’s Group.

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