(Bloomberg) — ING U.S. Inc., the insurer being divested by its Dutch parent, promoted Michael Smith to chief executive officer of the insurance unit as Butch Britton retires.
Smith, 50, is currently the New York-based insurer’s chief risk officer. Britton, 65, will be a senior adviser to CEO Rodney Martin and Smith until June 30, ING U.S. said today in a statement. Chet Ragavan, 59, chief risk officer of investment management, will succeed Smith.
“We are fortunate to have the necessary executive bench strength to promote into these important roles from within the organization and thus preserve the continuity with our employees, customers, clients, and distribution partners,” Martin said in the statement.