Enact Mourns the Death of Board Member General Raymond T. Odierno
Enact Holdings, Inc. (Nasdaq: ACT) announced the passing of Board Member, General Raymond T. Odierno, on October 8, 2021.
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Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) announced the passing of Board Member, General Raymond T. Odierno, on October 8, 2021. With nearly 40 years of service in the U.S. Army, General Odierno held significant leadership roles, including command during deployments in Europe and the Middle East. His contributions extended to corporate advisory roles post-retirement. Enact expressed deep condolences to the Odierno family, highlighting his exceptional service and leadership. The company plans to maintain its 11-person board and will share more details on succession in the future.
Positive
- Continued commitment to maintaining an 11-person board with 8 independent directors; potentially a stable governance structure.
Negative
- Loss of a key board member may create short-term leadership gaps, impacting strategic decision-making.
Details
News Market Reaction – ACT
The recorded move for ACT in the trading session of this news was +0.24%.
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RALEIGH, N.C., Oct. 12, 2021 /PRNewswire/ -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) mourns the passing of its Board Member, General Raymond T. Odierno, who passed away on October 8, 2021.
General Odierno served nearly 40 years in the U.S. Army and on several other boards including Honeywell International, Oshkosh Corporation Inc., and Sunrise Sports and Entertainment. Over the course of his highly decorated career, General Odierno commanded military units worldwide at every echelon, from platoon to theater, including deployments in Europe and the Middle East.
"We are deeply saddened by Ray's passing," said Dominic Addesso, Chairperson of the Enact Board. "Ray served this country tirelessly for nearly 40 years in the United States Army, retiring as a four-star general, and was an exceptional leader for our country. Following his retirement from the Army, Ray used his considerable talents to advise various corporations and firms, including Enact. We were incredibly proud to have him as a board member, and extend our sincerest condolences to his wife, Linda, children, family and friends."
Enact intends to maintain an 11-person board with 8 independent directors. The Board of Directors expects to make further announcements regarding the plan for succession at a future date.
About Enact Holdings, Inc.
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Genworth Mortgage Insurance Corp. since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
View original content:https://www.prnewswire.com/news-releases/enact-mourns-the-death-of-board-member-general-raymond-t-odierno-301397862.html
SOURCE Enact Holdings, Inc.
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