Voya Financial, which has significant Windsor operations, said the CEO of its retirement and annuities division, Mary E. Beams, has left the company to pursue other opportunities.
Previously a division president and CEO with TIAA-CREF, Beams had been with Voya since 2011. She earned $4.4 million in compensation last year.
Voya Chairman and CEO Rodney O. Martin Jr. will take over her responsibilities, the company said.
“In considering the significant role that our Retirement Solutions business plays both in our financial performance and in our value proposition, at this time I have decided to directly oversee the next phase of the businesses’ growth and expansion,” Martin said in a statement.
The Retirement Solutions business is Voya’s largest. It contributed 70 percent of the company’s overall operating earnings before taxes in 2013. Operating earnings in the division grew nearly 62 percent, to $889.6 million, between 2012 and 2013.
The company’s other businesses are investment management, and life insurance and employee benefits.
