On Friday, USAA CEO and President, Maj. Gen. Josue “Joe” Robles Jr., U.S. Army (Ret.), announced that he will retire from USAA in the first quarter of 2015.
“It has been my privilege to work at USAA for nearly 20 years. However, in early 2015, it will be time for me to pass leadership of this great association to the next CEO,” said Robles, in a statement posted on the USAA website. “Retiring one year from now will be the right time for USAA, and right for my family and me,” he said in the statement.
After serving on the USAA Board of Directors from 1990 to 1994 while on active duty, Robles joined the company in 1994 as CFO and Controller. He also served as Corporate Treasurer and Chief Administrative Officer before assuming the role of CEO and President in 2007.
Prior to USAA, Robles was recognized numerous times for service and honor during his distinguished 28-year career in the U.S. Army, where he served as commanding general of the 1st Infantry Division (The Big Red One) among other notable assignments.
USAA said that Robles has been instrumental in expanding USAA membership eligibility to all who have ever honorably served in the U.S. military and their eligible family members. Under Robles’ leadership, USAA has grown 53 percent in members, 45 percent in revenue, 68 percent in net worth, and 59 percent in assets owned and managed.
During that same period, USAA returned $7.3 billion to members and customers through dividends, distributions, bank rebates and rewards.
USAA Chairman of the Board Gen. Lester Lyles, USAF (Ret.) said that in seeking a successor for Robles, USAA will look for the some of the qualities embodied by Robles: “devotion to military and their families, deep appreciation and respect for [USAA’s] employee team, [as well as] keen business and financial acumen, and unquestionable ethics.”
“The board of directors has long had a succession plan in place, which includes a comprehensive internal and external search for USAA’s next CEO,” Lyles said, noting that the board expects to announce its selection by the end of 2014.
The USAA statement noted that with more than 30 percent of USAA’s new hires in 2013 being veterans and military spouses, Robles and USAA are part of the White House Joining Forces initiative.
The U.S. Chamber of Commerce Hiring Our Heroes program presented its highest award for Veteran and Military Spouse Employment to USAA. And USAA is recognized as the No. 1 employer of veterans by G.I. Jobs magazine.