MBIA Promotes Joseph Schachinger to CFO as Anthony McKiernan Steps Down

MBIA Inc. (NYSE: MBI), a prominent financial services firm, has revealed that its Executive Vice President and Chief Financial Officer, Anthony McKiernan, will be stepping down from his role. Effective April 30, 2024, McKiernan will vacate his position and resign from all other positions within the company. Assuming the role of CFO on the same date will be Joseph Schachinger, the current Controller.

Joseph Schachinger, who has been associated with MBIA since 2000, brings extensive experience to his new role as CFO. Before serving as Controller since May 2017, Schachinger held the position of Deputy Controller starting in 2009. His lengthy tenure with the company and profound comprehension of its financial operations make him a fitting successor to McKiernan.

The transition coincides with MBIA’s ongoing navigation of the intricate landscape of the financial services industry. Schachinger’s background and tenure within the company are anticipated to ensure continuity and stability in its financial leadership.

Bill Fallon, CEO of MBIA, expressed appreciation for McKiernan’s contributions, acknowledging his pivotal role in addressing significant challenges encountered by the company.

This announcement is grounded in a recent SEC filing, providing official confirmation of the executive alterations at MBIA. Investors and stakeholders are likely to closely monitor the transition, recognizing the critical significance of financial leadership in MBIA’s continued operations and strategic direction.

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