SAN ANTONIO — USAA President and CEO Wayne Peacock announced his plans to retire after a distinguished 36-year career at the company, including nearly five as CEO, USAA said in a press release.
He plans to retire in the first half of 2025.
“Wayne has always answered the call to serve and the Board is thankful for his leadership,” said USAA Board Chairman, retired Navy Vice Adm. Jim Zortman. “He is thoughtful and strategic and has never wavered in doing what’s right for the association. Because of his leadership, USAA is moving in lockstep with the changing needs of the military community and is continuing to set the bar for member service,” continued Zortman. “The Board is evaluating its list of internal and external candidates, and Wayne will stay onboard to ensure a smooth transition.”
The company says that, "Peacock has been with them since 1988 and has led strategy, marketing, member service teams, technology, shared services and corporate real estate." Before he became CEO, he served as president of the property and casualty insurance group, which is the fifth largest auto and fourth largest home insurer.
“Serving our members has been my greatest honor. Each day, I am inspired by our teammates, who deliver on the mission and go above and beyond when our members need us most,” said Peacock. “I’m grateful for the trust millions of military families place in us to help them achieve financial security.”
“Wayne’s tenure at the helm of the local insurance giant has been a testament to quality management during an era marked by constant change,” Bexar County Judge Peter Sakai says. “Wayne made history in 2019 when he was named the first civilian to lead the organization. He ran the company smoothly throughout the pandemic, then oversaw the switch to a hybrid work strategy and later a return to profitability in 2023."
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