Genworth Adds Accounting Duties To Incoming CEO Jerome T. Upton's Job Without Raising His Pay
The finance chief will cover the accounting vacancy until a replacement is appointed, with his CEO move scheduled for January 1, 2027.
Genworth Financial, which sells U.S. private mortgage insurance through majority-owned Enact, gave its incoming CEO Jerome T. Upton the interim accounting role Friday without changing his pay. The appointment adds to his current finance-chief duties ahead of his scheduled move to president and chief executive, according to an SEC filing filed Monday.
CFO Covers Woodell's Departure
The board named Upton, Genworth's executive vice president and chief financial officer, interim principal accounting officer — the executive responsible for its accounting. He will keep that assignment until the company appoints a new principal accounting officer; the additional job brings no change to his pay arrangements.
Genworth accepted the resignation of Darren W. Woodell, its vice president and controller, Friday. Woodell had been the principal accounting officer, so Upton now covers the accounting vacancy while continuing as CFO.
The departure was planned. On October 13, Genworth announced that Woodell intended to leave in early November to pursue another opportunity.
CEO Succession Is Already Scheduled
Genworth had announced Upton's succession on Friday, October 30, in connection with the retirement of President and Chief Executive Officer Thomas J. McInerney. Upton is scheduled to take those posts on January 1, 2027.
The accounting appointment takes effect now, while the top-executive transition remains scheduled. Upton's interim accounting tenure is tied to the appointment of a replacement rather than to the CEO succession date.
Mortgage Insurance And Aging Care
Enact's mortgage insurance covers part of the outstanding balance on low-down-payment home loans, protecting lenders and investors against losses when borrowers stop paying. It serves large banks, non-bank lenders, community banks and credit unions across all 50 states and the District of Columbia.
Genworth also operates CareScout Services, a start-up offering aging-care services for a fee, and CareScout Insurance. The latter began selling individual long-term care insurance in October 2025 and offered the product in 40 states as of February 20, 2026.
Its Closed Block business services existing long-term care, life insurance and annuity policies that Genworth no longer sells.
For now, Upton holds the finance job and the temporary accounting assignment; his scheduled presidential and CEO responsibilities begin January 1, 2027.
Sources
- 8-K Filing — GENWORTH FINANCIAL INC (GNW) — SEC EDGAR
