USAA announced on Tuesday that is board of directors has elected Wayne Peacock to serve as USAA’s next President and CEO, effective Feb. 1, 2020.

Wayne Peacock, USAA

Peacock will succeed Stuart Parker who is retiring after more than 21 years of USAA service. Parker has served as CEO since 2015.

Most recently, Peacock served as the President of the Property & Casualty Insurance Group, USAA’s largest business. He is a 31-year veteran of the company with direct experience in many areas across the organization. In addition to P&C, he has led strategy, marketing, call centers, technology, shared services and corporate real estate.

Retiring after more than two decades, Parker’s USAA resume includes roles as head of Financial Planning Services, P&C president, CFO and COO. He joined USAA as a financial planner in 1998.

As CEO, Parker focused on delivering world-class member experiences, expanding financial readiness and providing competitive employee benefits.

Stuart Parker, USAA

In a media statement, USAA Board Chairman Admiral Tom Fargo thanked Parker for his service and welcomed Peacock to his new role. He noted Parker’s role in establishing “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,” and his “steadfast leadership” during a “transitional time in the life of our company.”

Fargo also highlighted Peacock’s long tenure and his commitment to members and employees. “His dedication to our mission, deep understanding of the association and strong leadership will guide our company effectively into our second century,” Fargo said of the incoming CEO.

With Peacock’s move to CEO, Jim Syring, EVP Chief Administrative Officer has been selected as the next P&C president. Syring is a retired U.S. Navy Vice Admiral who has been responsible for USAA’s technology, security, procurement and facility operations.

Source: USAA