Genworth Financial, Inc. filed a Form 8-K on October 30, 2026, disclosing the planned retirement of President and CEO Thomas J. McInerney effective December 31, 2026, and the appointment of Jerome T. Upton as President and CEO and Angela R. Simmons as Executive Vice President and CFO, both effective January 1, 2027.

Key Highlights

  • CEO retirement: Thomas J. McInerney will retire as President and Chief Executive Officer and resign from the Board of Directors effective close of business December 31, 2026.
  • New CEO: Jerome T. Upton will be appointed President and Chief Executive Officer and elected to the Board effective January 1, 2027.
  • New CFO: Angela R. Simmons will be appointed Executive Vice President and Chief Financial Officer effective January 1, 2027.
  • Simmons background: Ms. Simmons, age 53, has been with Genworth since 2002, serving in capital markets, SEC reporting, controllership, and finance roles, and became CFO of the Company's Closed Block businesses in 2020.
  • Interim roles: Mr. Upton previously served as Interim President and CEO from July 7, 2026 to September 2, 2026, and will also serve as Principal Accounting Officer on an interim basis effective early November 2026.
  • Compensation pending: The company disclosed that new compensation terms for Mr. Upton and Ms. Simmons will be approved at a later date and disclosed by amendment to this report.

Genworth Financial Leadership Transition: McInerney Out, Upton and Simmons In

According to the filing, Genworth Financial, Inc. (NYSE:GNW) announced on October 30, 2026 that Thomas J. McInerney will retire as President and Chief Executive Officer at the close of business on December 31, 2026, and will simultaneously resign from the company's Board of Directors. The filing states that "Mr. McInerney's retirement is not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices."

The Board will appoint Jerome T. Upton as President and CEO and elect him to the Board effective January 1, 2027, according to the filing. The company reported that Mr. Upton previously served as Interim President and CEO from July 7, 2026 to September 2, 2026, during Mr. McInerney's medical leave of absence. The filing also noted that, as previously announced on October 8, 2026, Mr. Upton will serve as Principal Accounting Officer on an interim basis effective in early November 2026, in connection with the resignation of Darren W. Woodell. The filing directs readers to the Annual Report on Form 10-K filed on February 27, 2026, at Item 10, for further information on Mr. Upton's business experience.

Concurrent with Mr. Upton's elevation, Angela R. Simmons will be appointed Executive Vice President and Chief Financial Officer effective January 1, 2027, the filing disclosed. Ms. Simmons, age 53, has been with Genworth since 2002. The filing notes she "received a B.S. in Accounting from the University of Virginia" and that she spent more than a decade leading the company's SEC Reporting function before serving as Controller for the U.S. Life Insurance business and, from 2020, as CFO of the Closed Block businesses. The company disclosed that compensation terms for both Mr. Upton and Ms. Simmons in their new roles have not yet been set and will be disclosed in a subsequent amendment.

What Was Disclosed

Genworth Financial reported the retirement of its CEO effective December 31, 2026, and named Jerome T. Upton as his successor and Angela R. Simmons as incoming CFO, both effective January 1, 2027, with compensation terms to be determined and separately disclosed.