NEW YORK, Sept. 23, 2020 /PRNewswire/ -- The Guardian Life Insurance Company of America's Board of Directors announced today that Andrew J. McMahon will become Chief Executive Officer and President on October 1 and has joined the Board. He succeeds Deanna M. Mulligan, who will serve as Board Chair through year-end, when she will retire after leading the company for a decade.
The appointments are consistent with the company's leadership transition plan announced in May.
"We are grateful to Deanna and Andrew for working closely together to ensure a smooth transition," said Guardian Lead Director, Deborah Duncan. "With Deanna acting as Chair, Guardian is taking the final step in our CEO transition. We thank her for her exceptional leadership over the last 10 years. Deanna strengthened the company in so many ways, creating a solid foundation on which Andrew will build the Guardian of the future. Andrew's growth mindset, focus on putting customers first, deep industry experience and digital expertise are critical to our success going forward."
Ms. Mulligan joined Guardian in 2008 to lead the company's Individual Life & Disability business. She was named President and Chief Operating Officer in November 2010 and appointed CEO in July 2011. Her experiences as CEO of the company led her to author a book, "Hire Purpose: How Smart Companies Can Close the Skills Gap," which will be released in late October.
"I am honored to be named Board Chair, and grateful to everyone at Guardian for their support and hard work over the last 10 years," Ms. Mulligan said. "There is no one better suited than Andrew to take Guardian forward, and I am excited to pass the leadership of Guardian to him. He has proven himself to be a dynamic leader who understands the acceleration of change in our industry and is committed to furthering the values-driven culture that has guided Guardian for 160 years."
Mr. McMahon joined Guardian in 2017 as Executive Vice President, Strategy and Customer Development, and took on leadership of the Individual Markets business in 2019. He was named President last November, and successor to Ms. Mulligan in May.
"Thanks to Deanna, I will be operating from a position of strength on day one," Mr. McMahon said. "She has done so much for Guardian - particularly in shaping its culture and embedding our values in everything we do. My job is to build on those accomplishments, continue to evolve Guardian and find new ways to serve fast-changing consumer and business demands in an increasingly competitive, digitally-driven environment."
Every day, Guardian provides Americans the security they deserve through our insurance and wealth management products and services. Since our founding in 1860, our long-term view has helped our customers prepare for whatever life brings whether starting a family, planning for the future or taking care of employees. Today, we're a Fortune 250 mutual company and a leading provider of life, disability, dental, and other benefits for individuals, at the workplace and through government sponsored programs. The Guardian community of over 9,000 employees and our network of over 2,500 financial representatives are committed to serving with expertise when, where and how our clients need us. Our commitments rest on a strong financial foundation, which at year-end 2019 included $9.3 billion in capital and $1.7 billion in operating income. For more information, please visit guardianlife.com or follow us on Facebook, LinkedIn, Twitter and YouTube.
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