Mackey to Leave NAVA

Goal is to find replacement for CEO spot by NAVA's annual meeting in October

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After more than 12 years as president and CEO of NAVA, Mark Mackey has resigned to pursue other opportunities in the financial services arena.

A national search is currently underway for Mackey's replacement, with hopes to have new leadership in place by NAVA's 2008 annual meeting in October. Mackey plans to stay on until the 2008 meeting and assist with the search, according to a NAVA release announcing his resignation.

Clifford Jack, chairman of NAVA, said in the release that "from his work with the regulatory community to the development of the straight-through processing initiative, to consumer education and awareness efforts, Mark has always been committed to serving the best interests of both the industry and investors of all financial profiles."

Mackey added in the release that "It has been my privilege to be part of an organization that has been so successful in improving the environment for our industry and the millions of investors who are enjoying greater financial security."

Formerly known as the National Association for Variable Annuities, NAVA renamed itself the Association for Insured Retirement Solutions.

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