Radian Announces Retirement of Herbert Wender as Non-Executive Chairman
August 12 2021 - 5:30AM
Business Wire
Radian Director Howard B. Culang Will Succeed
Wender in May 2022
Radian Group Inc. (NYSE: RDN) today announced that Herbert
Wender intends to retire as Non-Executive Chairman of the company’s
Board of Directors following completion of his current term at
Radian’s Annual Meeting of Stockholders to be held in May 2022. His
retirement follows a decades-long tenure during which he helped
make Radian one of the most successful, dynamic and resilient
companies in the mortgage and real estate industries.
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Herb Wender, Radian (Photo: Business
Wire)
Howard B. Culang will succeed Wender as Non-Executive Chairman.
Culang has been a director of Radian since June 1999, and currently
serves as Chair of the Board’s Credit Management Committee, and on
the Compensation and Human Capital Management and Governance
Committees. Prior to his tenure at Radian, he was an executive in
the mortgage industry including serving as Vice Chairman of
Residential Services Corporation of America and Prudential Home
Mortgage and as a Senior Credit Officer of Citibank, N.A.
“On behalf of the entire Radian family, I would like to offer a
heartfelt thank you to Herb for his decades of incredible service
to the company,” said Radian Chief Executive Officer Rick
Thornberry. “His experience and deep knowledge of our businesses
have been highly valuable to our company during his tenure. His
work at Radian has helped so many people achieve the American Dream
of homeownership and shape us into the tremendous company we are
today.”
Thornberry added, “I also want to thank Howard for agreeing to
assume the role of Non-Executive Chairman and I look forward to
working with him. As we focus on growing our businesses and
providing digital solutions across the mortgage and real estate
spectrum, I believe that Howard’s business experience, expertise in
emerging technologies and information security and the deep
institutional knowledge of our company that he has acquired
through multiple business and economic cycles will serve Radian and
its stockholders well.”
During his tenure at Radian, Wender served as Non-Executive
Chairman and Lead Director since 1992 and, prior to that, as
Chairman of the Board and Chief Executive Officer of Radian
Guaranty Inc., Radian’s principal mortgage subsidiary.
“It has been an honor to have played a part in such an impactful
and successful company for so many years," said Wender. "Radian has
always sought to make the housing industry work better for the
people it serves, and I know they will continue to build on that
foundation moving forward. I look forward to seeing what they
accomplish in the years to come."
Wender has advised the company during an array of pivotal
periods, from its initial public offering to its current
development of transformative technology, big data and artificial
intelligence capabilities. Throughout his tenure, Wender supported
the company’s growth into a leading mortgage insurance provider and
its diversification into products and services that span the
residential mortgage and real estate spectrum.
About Radian
Radian Group Inc. (NYSE: RDN) is ensuring the American dream of
homeownership responsibly and sustainably through products and
services that include industry-leading mortgage insurance and a
comprehensive suite of mortgage, risk, title, valuation, asset
management and other real estate services. We are powered by
technology, informed by data and driven to deliver new and better
ways to transact and manage risk. Visit www.radian.com to learn
more about how Radian is shaping the future of mortgage and real
estate services.
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version on businesswire.com: https://www.businesswire.com/news/home/20210812005231/en/
For Investors John Damian - Phone: 215.231.1383 email:
john.damian@radian.com
For the Media Rashi Iyer - Phone 215.231.1167 email:
rashi.iyer@radian.com
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