USAA CEO Wayne Peacock, who took the helm of the organization in 2019, is the first non-veteran to lead USAA
In an email addressed to “team USAA” sent Monday morning just before noon, USAA President and CEO Wayne Peacock introduced that he would be stepping down as CEO, a function he’s held due to the fact that 2019.
Peacock defined taking up the function with the concept that it would be a “three-to-five-year assignment.” With the five-year mark drawing close, he wrote, “I’m able to retire in the first half of 2025, as soon as a new CEO is selected.”
USAA serves roughly 13.5 million members and employs approximately 37,000 human beings worldwide. of these, 19,000 or so are primarily based on the business enterprise’s San Antonio headquarters.
Peacock led the corporation through the COVID-19 pandemic, transferring 360,000 employees to work from home; its first loss in its 102-year–records and its go back to profitability in 2023.
During his time as CEO, USAA responded to more and more extreme herbal disasters, and a concomitant rise in insurance rates.
He expanded the company’s minimum pay and greater blessings to consist of mental health and own family help resource.
In 2022, USAA announced it might vacate its downtown workplaces by using the give up of the year, with 500 or so personnel moved lower back to the agency’s sprawling headquarters in Northwest San Antonio. Peacock at the time cited that the pandemic-associated shift to hybrid work pandemic “have changed our real property want.”
“There’s never been a time while there’s been this whole lot of change taking place, and this a good deal of uncertainty,” said Peacock as a part of a panel on the future of work hosted by the San Antonio report and more: SATX in may also. “And the speed of the trade has in no way been this rapid.”
Peacock has spent a complete 36 years with USAA, beginning in 1998. He has led approach, advertising, member provider groups, technology, shared services and corporate real property, according to the assertion posted on USAA’s internet site Monday.
Prior to serving as CEO, he became president of the assets and casualty insurance organization.
Peacock became the first civilian CEO to steer the business enterprise, which commenced in 1922 with the aid of a set of U.S. navy officers and later elevated to include dependents and enlisted contributors of the U.S. militia.
“Wayne has constantly answered the decision to serve and the board is thankful for his leadership,” said retired U.S. army Vice Admiral Jim Zortman, USAA’s board chairman. “He is considerate and strategic and has never wavered in doing what’s proper for the association.”
The board is comparing a list of inner and external applicants, Zortman persisted, “and Wayne will live onboard to ensure an easy transition.”
Whilst the board works via the selection manner, “I’ll preserve to steer from the the front, asI have constantly carried out, to assist each person be at our first-rate and supply on our commitment to our individuals, our trams and every other,” USAA CEO Wayne Peacock wrote in his email.
“I have complete self belief in our management crew and in group USAA’s path ahead.”