- After around six years on the job
- Laud and praise for Bonach
- Bonach spoke at length and said 89 words
(exechange) — Carmel, Indiana, May 16, 2017 — Ed Bonach, chief executive of CNO Financial, hands over the reins. As announced by CNO Financial Group, Inc. in a news release and in a regulatory filing published on Tuesday, May 16, 2017, Edward J. (Ed) Bonach leaves the post as Chief Executive Officer at the financial services holding company after around six years on the job, effective December 31, 2017.
Bonach’s duties are taken over by Gary Bhojwani, currently President at CNO Financial Group, Inc.
“I’ve decided it’s the right time”
The management change is explained as follows. Bonach said: “After much thought, with the company well-positioned for future success and with great confidence in Gary’s proven leadership and experience, I’ve decided it’s the right time for me to announce my retirement.”
Precise information about the future plans of Bonach was not immediately available.
CNO Financial said: “Edward J. Bonach will be retiring as Chief Executive Officer and as a member of the Board of Directors of CNO … effective December 31, 2017.”
Share price rise since March 2009
The change follows a rise in the share price of CNO Financial Group, Inc. since March 2009.
Chaired by Neal C. Schneider
CNO Financial Group, Inc. is chaired by Neal C. Schneider.
Neal Schneider joined CNO Financial Group’s board of directors in September 2003 and was elected Chairman of the board in May 2011.
On the job as CEO since 2011
Ed Bonach was appointed chief executive officer and a director of CNO Financial Group in October 2011. He serves as a member of the Executive Committee and the Investment Committee.
Bonach formerly served as executive vice president and chief financial officer of CNO from May 2007 through September 2011.
His areas of responsibility included actuarial, accounting, controlling, risk management, treasury, tax, facilities and investor relations.
This role included partnering with the CEO in strategically repositioning and leading the organization.
Bonach joined CNO from National Life Group, where he served as executive vice president and chief financial officer.
Before joining National Life in 2002, he was with Allianz Life for 23 years, where he worked in Germany for three years; his positions with Allianz included president, Reinsurance Division and chief financial officer.
His more than 25 years of c-suite experience includes numerous M&A and capital markets transactions, managing a variety of stakeholders.
Bonach holds a Bachelor of Arts degree (cum laude) in mathematics from St. John’s University in Collegeville, Minnesota.
He is a fellow of the Society of Actuaries (FSA), a member of the American Academy of Actuaries (MAAA) and a Chartered Enterprise Risk Analyst (CERA).
Other outside involvement includes Board and Executive Committee Member, Greater Indianapolis Chamber of Commerce; Board Member and Executive Committee, Indiana Sports Corporation (ISC); Board Member and President, Boy Scouts of America-Crossroads of America Council; Board of Trustees Member, Marian University and Director, Western Golf Association.
Read the full story in the exechange report 21.2017 ($).