CNO Financial shakes up executive ranks

CNO Financial Group Inc. on Tuesday announced a major shakeup to its executive ranks, replacing its senior vice president for marketing and communications and the leaders of two of its three insurance subsidiaries.

The Carmel-based insurance holding company said the leadership changes are “designed to accelerate the company's strategic growth, further strengthen the enterprise, and position the organization for continued success.”

CNO said Gerardo Monroy has been appointed chief marketing officer, replacing Chris Campbell. Monroy, who joined CNO in 2001, most recently served as president of the Colonial Penn insurance unit.

Campbell had been senior vice president for marketing and communications since April 2013. CNO did not say why Campbell left the company.

CNO also appointed Mike Heard president of its Washington National Insurance unit, replacing Barbara Stewart. The company said Stewart “left the organization to pursue other opportunities” after four years at the helm.

Heard, who had been CNO’s senior vice president of enterprise operations, joined the company in 2013 after eight years at Genworth Financial in senior leadership positions.

Jean Linnenbringer, vice president of customer service, was named to assume responsibilities for enterprise operations on an interim basis.

Joel Schwartz was appointed president of the Colonial Penn, succeeding Monroy.

Schwartz previously as vice president of finance and administration for Colonial Penn. He joined CNO in 2014.

"These senior leadership changes fully support CNO's strategy and focus on growing our businesses to meet middle-income America's needs for financial security in retirement," CNO President Gary Bhojwani said in a written statement. “CNO's investment and commitment to talent development has allowed us to promote strong internal leaders into these key executive positions.”

CNO announced the changes after the stock market closed for the day. Shares fell 2 percent Tuesday, to $20.33 each. CNO shares are up 6.2 percent since the beginning of the year.