Why is Lon Greenberg resigning from the Board?

Lon Greenberg is resigning from the Board of Directors due to personal commitments. The company stated that his resignation is not a result of any disagreement with Ameriprise Financial.

What is the background of the new director, Armando Pimentel, Jr.?

Armando Pimentel, Jr. has a strong financial and executive background. He previously served as president and chief executive officer of NextEra Energy Resources, and held executive vice president, finance and chief financial officer roles at NextEra Energy, Inc. He also has experience as a partner at Deloitte & Touche and with the SEC's Office of the Chief Accountant.

What role will Armando Pimentel, Jr. play on the Board?

Mr. Pimentel has been appointed as a director to the Board and will serve as a member of the Company's Audit and Risk Committee, bringing his financial and risk management expertise to these critical areas.

How will the new director be compensated?

Mr. Pimentel will participate in Ameriprise Financial's outside director compensation program. He is eligible to receive a pro rata share of the annual $190,000 grant of deferred share units, based on his service period starting September 15, 2022.

AMP 8-K: Leadership Changes

Summary

Ameriprise Financial, Inc. (AMP) announced a change in its Board of Directors composition. Lon Greenberg will be resigning from the Board effective September 14, 2022, due to personal commitments, with no stated disagreements with the company. In a related development, the Board has appointed Armando Pimentel, Jr. as a new director, effective September 15, 2022. Mr. Pimentel brings extensive executive experience, having previously served as CEO of NextEra Energy Resources and in senior finance roles at NextEra Energy, Inc. His appointment strengthens the Board's expertise, particularly with his inclusion on the Audit and Risk Committee. Mr. Pimentel will participate in the company's standard outside director compensation program.

Key Highlights

1Lon Greenberg is resigning from the Ameriprise Financial Board of Directors on September 14, 2022, citing personal commitments.
2Mr. Greenberg's resignation is not due to any disagreement with the company.
3Armando Pimentel, Jr. has been appointed as a new director to the Board, effective September 15, 2022.
4Mr. Pimentel has significant executive experience, including as former CEO of NextEra Energy Resources and former CFO of NextEra Energy, Inc.
5Mr. Pimentel has also been appointed as a member of the Company's Audit and Risk Committee.
6Mr. Pimentel will be compensated under the company's established outside director compensation program, receiving a pro rata share of annual deferred share units.

AMERIPRISE FINANCIAL INC 8-K Report, Executive Changes (Sep 12, 2022)

Summary

Key Highlights

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