MassMutual announced that Chief Financial Officer Betsy Ward will retire on December 31, 2024, after nearly 30 years of service to the company. Ward has served as chief financial officer since June 2016 and completed many significant accomplishments during her career in the roles of chief actuary, executive vice president, and chief enterprise risk officer.
I also want to applaud Ms. Ward for all that she has achieved over the last six years of service, said Roger Crandall, Chairman, President and Chief Executive Officer of MassMutual. Her contribution to building the firm’s growth and financial muscle has been instrumental in its success. Under her stewardship, MassMutual has delivered strong performance in strategic transactions, while at the same time remaining a robustly capitalized institution that amplifies further long-term value for policyholders. “Betsy has been a driving force behind our success, and her leadership and commitment have made a lasting impact on the company,” said Crandall. “We are highly grateful for her contributions and wish her all the very best in her well-deserved retirement.”
It has announced the retirement of Ward and appointed Mary Jane Fortin as the CFO to replace him from January 1, 2025. Fortin holds over 35 years of experience in financial services and had worked at executive leadership positions in Thrivent Financial, Allstate Financial, AIG, The Hartford, and PwC. According to Crandall, he is confident that Fortin will further strengthen the already sound financial base of MassMutual. “MJ’s substantial experience and history of success in financial leadership will be invaluable as she leads our further efforts toward optimizing financial performance and capital management,” he said.
In addition, the company disclosed that Vy Ho, Head of Valuation and Appointed Actuary for MassMutual, will be Chief Actuary, effective today. Ho comes to the expanded leadership role from MassMutual after four years, following nearly 15 years at Prudential Financial.
MassMutual is one of the significant employers in Massachusetts, as it has about 4,000 employees in the state and 6,500 company-wide.
