Frederick J. Crawford to Retire as President; Chief Operating Officer of Aflac Incorporated

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Aflac Incorporated announced that Frederick J. Crawford, President; Chief Operating Officer, will retire effective September 30, 2024. Crawford has nearly three decades of financial experience and was responsible for overseeing administrative and operational functions as well as leading growth initiatives. Aflac CEO expressed gratitude for Crawford's contributions and confidence in the company's leadership bench. Crawford expressed enjoyment working with the team and plans to support a smooth transition before pursuing personal interests.

COLUMBUS, Ga., Nov. 1, 2023 /PRNewswire/ -- Aflac Incorporated today announced that Frederick J. Crawford, President; Chief Operating Officer of Aflac Incorporated will retire effective September 30, 2024.  

With nearly three decades of financial experience, Fred was responsible for overseeing the day-to-day administrative and operational functions of the business as well as leading several areas related to Aflac Incorporated's growth initiatives.

"I am grateful for Fred's dedication and contributions to Aflac over the last eight years and wish him well in his next chapter," said Daniel P. Amos, Aflac Incorporated Chairman and CEO. "Aflac has an extraordinary leadership bench in Japan and the United States, and I look forward to working with Fred and Aflac's executive management team to ensure a smooth transition. I am confident the company will deliver on our promise to our policyholders while also driving shareholder value."

"I have enjoyed my time at Aflac and have been extremely fortunate to work alongside a respected and innovative team," Crawford said. "I know our teams will continue driving our strategy with the same level of energy and commitment. I look forward to spending more time with family and pursuing personal interests, and in the near term, to working with the executive leadership to ensure a smooth transition and provide support on organization alignment." 

ABOUT AFLAC INCORPORATED 
Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for more than 68 years to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products.¹ In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance policies in force. The company takes pride in being there for its policyholders when they need us most, as well as being included in 2023 in the World's Most Ethical Companies by Ethisphere for 17 consecutive years, Fortune's World's Most Admired Companies for 22 years and Bloomberg's Gender-Equality Index for the fourth consecutive year. In addition, the company became a signatory of the Principles for Responsible Investment (PRI) in 2021 and has been included in the Dow Jones Sustainability North America Index (2022) for nine years. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated and its commitment to corporate social responsibility and sustainability at investors.aflac.com under "Sustainability."

¹ LIMRA 2022 U.S. Supplemental Health Insurance Total Market Report 

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: 

• difficult conditions in global capital markets and the economy, including inflation and the continued effects caused by COVID-19
• defaults and credit downgrades of investments
• global fluctuations in interest rates and exposure to significant interest rate risk
• concentration of business in Japan
• limited availability of acceptable yen-denominated investments
• foreign currency fluctuations in the yen/dollar exchange rate
• differing interpretations applied to investment valuations
• significant valuation judgments in determination of expected credit losses recorded on the Company's investments
• decreases in the Company's financial strength or debt ratings
• decline in creditworthiness of other financial institutions
• concentration of the Company's investments in any particular single-issuer or sector
• major public health issues, including COVID-19 and any resulting or coincidental economic effects, on the Company's business and financial results
• the Company's ability to attract and retain qualified sales associates, brokers, employees, and distribution partners
• deviations in actual experience from pricing and reserving assumptions
• ability to continue to develop and implement improvements in information technology systems and on successful execution of revenue growth and expense management initiatives
• 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
• subsidiaries' ability to pay dividends to the Parent Company
• inherent limitations to risk management policies and procedures
• operational risks of third party vendors
• tax rates applicable to the Company may change
• failure to comply with restrictions on policyholder privacy and information security
• extensive regulation and changes in law or regulation by governmental authorities
• competitive environment and ability to anticipate and respond to market trends
• catastrophic events, including, but not limited to, as a result of climate change, epidemics, pandemics (such as COVID-19), tornadoes, hurricanes, earthquakes, tsunamis, war or other military action, terrorism or other acts of violence, and damage incidental to such events
• ability to protect the Aflac brand and the Company's reputation
• ability to effectively manage key executive succession
• changes in accounting standards
• 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 or 800.235.2667 or dyoung@aflac.com

Media contact – Ines Gutzmer, 762.207.7601 or igutzmer@aflac.com

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SOURCE Aflac Incorporated

FAQ

Who is retiring from Aflac Incorporated?

Frederick J. Crawford, President; Chief Operating Officer, is retiring.

When will Frederick J. Crawford's retirement be effective?

Frederick J. Crawford's retirement will be effective on September 30, 2024.

What was Frederick J. Crawford responsible for at Aflac Incorporated?

Frederick J. Crawford was responsible for overseeing administrative and operational functions and leading growth initiatives.

What did Aflac CEO say about Frederick J. Crawford's retirement?

Aflac CEO expressed gratitude for Crawford's dedication and contributions and confidence in the company's leadership bench.

What did Frederick J. Crawford say about his retirement?

Frederick J. Crawford expressed enjoyment working with the team and plans to support a smooth transition before pursuing personal interests.