MGIC CFO Lauer To Retire; Controller Mattke To Succeed Him
MILWAUKEE, Oct. 24, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today announced that J. Michael Lauer, who has been the Company's Chief Financial Officer since 1989, is retiring February 28, 2014. Timothy J. Mattke, the Company's Controller since 2009, will become Chief Financial Officer effective upon Mr. Lauer's retirement. For one year after his retirement, Mr. Lauer will remain available to provide advisory services to the Company.
"Mike has had a long and distinguished career at MGIC during which he and MGIC endured the ups and downs of our industry," said Curt Culver, the Company's Chairman and CEO. "All of us will miss his leadership and camaraderie even as we benefit from the strong successor that Mike has developed in Tim."
Mr. Mattke, age 37, has been with the Company for over seven years. Prior to his becoming Controller, he was Assistant Controller of Mortgage Guaranty Insurance Corporation ("MGIC"), since August 2007 and prior to that was a manager in MGIC's accounting department. Before joining MGIC, Mr. Mattke was an audit manager and an auditor with PricewaterhouseCoopers LLP, the Company's independent accountants. He has a BS from the University of Wisconsin-Madison as well an MA in Accountancy from that University and is a CPA.
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $159.2 billion primary insurance in force covering approximately 1.0 million mortgages as of September 30, 2013. MGIC serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.
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SOURCE MGIC Investment Corporation