COLUMBUS, Ga., Nov. 12, 2019 /PRNewswire/ -- Aflac
Incorporated (NYSE: AFL) announced today that Frederick J. Crawford, who currently serves as
executive vice president and chief financial officer, will be
promoted to president and chief operating officer of Aflac
Incorporated, continuing to report to Aflac Incorporated Chairman
and Chief Executive Officer Daniel P.
Amos. Crawford will be responsible for a number of areas
that are pivotal to Aflac Incorporated's growth and long-term
success, including executing enterprise growth initiatives;
transforming the enterprise by leveraging digital growth and
efficiency initiatives; delivering on key strategic initiatives
that achieve expected returns on investment; and ensuring its
financial stability and strength with oversight of operations in
Japan and U.S., finance, risk and
investments. Max K. Brodén, who currently serves as senior vice
president; deputy chief financial officer and treasurer of Aflac
Incorporated, will be promoted to executive vice president and
chief financial officer of Aflac Incorporated. Brodén, who will
continue to report to Crawford, will retain responsibility for
Treasury, Investor Relations, Corporate Development, Rating Agency
Relations, Financial Planning and Analysis, while adding oversight
of Financial Reporting, Tax and Internal Audit. These changes will
become effective January 1, 2020.
Crawford joined Aflac in 2015 as executive vice president and
chief financial officer, bringing 20 years of industry leadership
experience to Aflac, including his role as chief financial officer
of CNO Financial Group, and prior to that, he spent more than a
decade at the Lincoln Financial Group serving in roles of
progressive responsibility including chief financial officer.
Crawford received his Bachelor of Arts from Indiana State University and a Master of Business
Administration from the University of
Iowa, where he also currently serves on the advisory board
of the Tippie College of Business.
Brodén joined Aflac in 2017 as senior vice president and
treasurer, bringing more than 15 years of experience and leadership
managing global financial and insurance portfolios. Earlier this
year, he was promoted to senior vice president; deputy chief
financial officer and treasurer of Aflac Incorporated. Before
joining Aflac, Brodén served as senior portfolio manager at Norges
Bank, managing an equity portfolio of global financial and
insurance stocks. Brodén received his Master of Science degree with
majors in both Accounting and Finance from the Stockholm School of Economics. He is a CFA
charterholder.
Commenting on the announcement, Aflac Incorporated Chairman and
Chief Executive Officer Daniel P.
Amos said: "Fred Crawford is
a natural leader who has made a tremendous impact on the company in
the four-plus years he's been here. He has been instrumental in
guiding the financial management of the company and helping to grow
our footprint in key business areas. His business acumen has
greatly enhanced the financial division by building on its
strengths to transform the various functions into the strong
organization you see today. Fred also hired Max, whose deep
knowledge of the industry has benefited Aflac immensely. In a short
timeframe, Max has made great strides within the corporate
development function and further enhanced the treasury department.
I look forward to working with Fred, Max and their teams as they
continue to make valued contributions to Aflac in the future."
About Aflac Incorporated
Aflac Incorporated (NYSE:
AFL) is a Fortune 500 company, helping provide protection to more
than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading
supplemental insurer by paying cash fast when policyholders get
sick or injured. For more than six decades, insurance policies of
Aflac Incorporated's subsidiaries have given policyholders the
opportunity to focus on recovery, not financial stress. Aflac Life
Insurance Japan is the leading provider of medical and cancer
insurance in Japan where it
insures 1 in 4 households. Through its trailblazing One Day
PaySM initiative in the United
States, for eligible claims, Aflac can process, approve and
electronically send funds to claimants for quick access to cash in
just one business day. For 13 consecutive years, Aflac has been
recognized by Ethisphere as one of the World's Most Ethical
Companies. In 2018, Fortune magazine recognized Aflac as one of the
100 Best Companies to Work for in America for the 20th consecutive
year and in 2019 Fortune included Aflac on its list of World's Most
Admired Companies for the 18th time. To find out more about One Day
PaySM and learn how to get help with expenses health
insurance doesn't cover, get to know us at aflac.com.
Forward-looking Information
The Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" to encourage
companies to provide prospective information, so long as those
informational statements are identified as forward-looking and are
accompanied by meaningful cautionary statements identifying
important factors that could cause actual results to differ
materially from those included in the forward-looking statements.
The company desires to take advantage of these provisions. This
document contains cautionary statements identifying important
factors that could cause actual results to differ materially from
those projected herein, and in any other statements made by company
officials in communications with the financial community and
contained in documents filed with the Securities and Exchange
Commission (SEC). Forward-looking statements are not based on
historical information and relate to future operations, strategies,
financial results or other developments. Furthermore,
forward-looking information is subject to numerous assumptions,
risks and uncertainties. In particular, statements containing words
such as "expect," "anticipate," "believe," "goal," "objective,"
"may," "should," "estimate," "intends," "projects," "will,"
"assumes," "potential," "target," "outlook" or similar words as
well as specific projections of future results, generally qualify
as forward-looking. Aflac undertakes no obligation to update such
forward-looking statements.
The company cautions readers that the following factors, in
addition to other factors mentioned from time to time, could cause
actual results to differ materially from those contemplated by the
forward-looking statements:
- events related to the ongoing Japan Post
investigation
- difficult conditions in global capital markets and the
economy
- exposure to significant interest rate risk
- concentration of business in Japan
- foreign currency fluctuations in the yen/dollar exchange
rate
- limited availability of acceptable yen-denominated
investments
- U.S. tax audit risk related to conversion of the
Japan branch to a
subsidiary
- deviations in actual experience from pricing and reserving
assumptions
- ability to continue to develop and implement improvements in
information technology systems
- competitive environment and ability to anticipate and
respond to market trends
- ability to protect the Aflac brand and the Company's
reputation
- ability to attract and retain qualified sales associates,
brokers, employees, and distribution partners
- interruption in telecommunication, information technology
and other operational systems, or a failure to maintain the
security, confidentiality or privacy of sensitive data residing on
such systems
- failure to comply with restrictions on patient privacy and
information security
- extensive regulation and changes in law or regulation by
governmental authorities
- tax rates applicable to the Company may change
- defaults and credit downgrades of investments
- decline in creditworthiness of other financial
institutions
- significant valuation judgments in determination of amount
of impairments taken on the Company's investments
- subsidiaries' ability to pay dividends to the Parent
Company
- decreases in the Company's financial strength or debt
ratings
- inherent limitations to risk management policies and
procedures
- concentration of the Company's investments in any particular
single-issuer or sector
- differing judgments applied to investment
valuations
- ability to effectively manage key executive
succession
- catastrophic events including, but not necessarily limited
to, epidemics, pandemics, tornadoes, hurricanes, earthquakes,
tsunamis, war or other military action, terrorism or other acts of
violence, and damage incidental to such events
- changes in accounting standards
- increased expenses and reduced profitability resulting from
changes in assumptions for pension and other postretirement benefit
plans
- level and outcome of litigation
- allegations or determinations of worker misclassification in
the United States
Analyst and investor contact - David A.
Young, 706.596.3264, 800.235.2667 or dyoung@aflac.com
Media contact - Catherine H.
Blades, 706.596.3014; FAX: 706.320.2288 or
cblades@aflac.com
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SOURCE Aflac Incorporated