SAN ANTONIO — Editor's note: The above video was originally published December 6.
USAA's Board of Directors has elected a new President and CEO, the company announced Tuesday.
Wayne Peacock will succeed current CEO Stuart Parker, who will retire in February, according to a press release from USAA. Parker has been an employee with USAA for more than 21 years and was elected to the CEO position in 2015.
Peacock most recently served as the President of Property & Casualty Insurance Group for USAA. EVP Chief Administrative Officer Jim Syring has been selected to replace Peacock in that role.
“Serving the military community is my passion, and it’s an honor to follow a legacy of great leaders at USAA,” Peacock said in a statement released by USAA.
“I am proud of the 35,000 USAA employees who come together to bring our mission to life by serving our members with excellence every day."
“Wayne has served in a broad range of key assignments at USAA for over 30 years and is absolutely committed to our members and our employees,” said USAA Board Chairman Admiral Tom Fargo. “His dedication to our mission, deep understanding of the association and strong leadership will guide our company effectively into our second century.”
“We thank Stuart for his steadfast leadership during this important and transitional time in the life of our company,” Fargo said of Parker. “Stuart has set a strong foundation for USAA to be a dynamic, enduring and compliant company well positioned to serve our members’ financial security for generations to come. The Board and I wish Stuart and his family the very best.”