Who is Jose Minaya and what is his role at Moody's?

Jose Minaya has been elected as a new member of Moody's Corporation's Board of Directors, effective October 17, 2022. He is also a member of the Board's Audit, Governance & Nominating, and Compensation & Human Resources Committees. Mr. Minaya is currently the chief executive officer of Nuveen, a TIAA Company, bringing extensive experience in investment management and financial services.

What is Mr. Minaya's background and experience?

Mr. Minaya has a strong background in finance and investment. Prior to leading Nuveen as CEO since January 2020, he served as its chief investment officer and president. He previously held leadership roles at TIAA, overseeing global real assets and a broad range of investment strategies. He joined TIAA in 2004 and is also a member of the TIAA Executive Committee and serves on several other boards.

How will Mr. Minaya be compensated as a director?

As a non-employee director, Mr. Minaya will receive an annual cash retainer of $105,000, paid quarterly. Additionally, in November 2022, he will be granted restricted stock units valued at $195,000, based on the company's stock price on the grant date, which will vest one year after the grant date.

What is the significance of Mr. Minaya's appointment for Moody's?

Mr. Minaya's appointment is significant as he brings substantial leadership experience from Nuveen and TIAA, particularly in investment strategy and management across diverse asset classes. His addition to the Board and key committees is expected to enhance Moody's governance and strategic oversight, leveraging his expertise in the financial sector.

MCO 8-K: Leadership Changes & Regulation FD

Summary

Moody's Corporation (MCO) has announced a significant addition to its Board of Directors, with the election of Mr. Jose Minaya, effective October 17, 2022. Mr. Minaya brings extensive experience from his current role as CEO of Nuveen, a TIAA Company, and prior leadership positions within TIAA, focusing on investment strategy and management across various asset classes. His appointment expands the Board to eleven directors and includes his participation on key committees: Audit, Governance & Nominating, and Compensation & Human Resources. This strategic appointment is designed to leverage Mr. Minaya's deep financial industry expertise to further enhance the company's governance and strategic direction. Investors can anticipate that his background in managing large investment portfolios and navigating complex financial markets will contribute valuable insights to Moody's oversight. The company has outlined his compensation as a non-employee director, including an annual cash retainer and a restricted stock unit award, aligning his interests with those of shareholders.

Key Highlights

1Jose Minaya elected to Moody's Board of Directors, effective October 17, 2022.
2Mr. Minaya brings significant experience as CEO of Nuveen (a TIAA Company) and prior leadership roles at TIAA.
3He has been appointed to serve on the Board's Audit, Governance & Nominating, and Compensation & Human Resources Committees.
4The addition of Mr. Minaya increases the total number of directors on the Board to eleven.
5Mr. Minaya's compensation as a non-employee director includes an annual cash retainer of $105,000.
6He will also receive an annual restricted stock unit award valued at $195,000, vesting one year after grant.
7The announcement was made via a press release furnished as Exhibit 99.1 to the 8-K filing.

MOODYS CORP /DE/ 8-K Report, Executive Changes (Oct 18, 2022)

Summary

Key Highlights

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