Long-time Nationwide senior executive Mark Thresher to retire
Tim Frommeyer named new Chief Financial Officer
Nationwide Chief Financial Officer Mark Thresher has announced his plans to retire in September following 25 years of distinguished service. Thresher has served in that role since 2009. In addition to overseeing the Fortune 100 company's financial operations, Thresher also leads Nationwide's investment operations and oversees Nationwide Realty Investors. He also recently announced his retirement as chairman of the Otterbein University board of trustees after 21 years of board service, eight as chairman.
Thresher started his Nationwide career in 1996 following nearly 20 years at KPMG, where he was responsible for the Nationwide account. He helped establish and broaden Nationwide's financial services footprint, helping to take Nationwide Financial public in 1997 as its vice president of finance and treasurer. He became president of NF in 2004. Today, Nationwide's financial services business drives half of the company's revenues.
“Mark leaves an incredible legacy of strategic and people-centered leadership at Nationwide,” said Nationwide CEO Kirt Walker. “His focus on growth and profitability, along with being a champion for professional development, diversity and inclusion, and community service, has impacted associates and community members alike throughout his 40-plus years in the industry.”
Throughout his tenure as CFO, Thresher has emphasized building and maintaining Nationwide's capital strength, with the company consistently earning A+ ratings from A.M. Best and Standard & Poor’s. This, in turn, has enabled the company to maintain its obligations while also making key acquisitions to expand Nationwide's portfolio and capabilities. Key acquisitions included the 2012 merger with Harleysville Mutual Insurance company expanding Nationwide’s geographic reach and distribution among independent agents, as well as the acquisition of Jefferson National in 2016, expanding the company's distribution capabilities with registered investment advisors.
An advocate for community and industry service, along with serving on the Otterbein board, Thresher is a member of the Federal Advisory Committee on Insurance and has served as chair of COSI Columbus. He also has served on the advisory board for ODW Logistics, Inc. Thresher was inducted into the Ohio Foundation of Independent Colleges Hall of Excellence in April 2017.
Tim Frommeyer will succeed Thresher as Nationwide's Chief Financial Officer and will be a part of the Nationwide executive leadership team. Frommeyer began his career with Nationwide in 1986 as an actuarial student and advanced through positions of increasing responsibility, including chief actuary for financial services, chief financial officer for that organization, and most recently as chief financial officer for both financial services and property & casualty under Thresher.
“Nationwide has tremendous talent and bench strength that contribute to our strong succession planning efforts,” said Walker. “This thorough planning will enable a smooth transition for our businesses and associates.”
Frommeyer is a mathematics graduate of Xavier University, a member of the American Academy of Actuaries and a Fellow of the Society of Actuaries. He is a member of the board of trustees for the Columbus Metropolitan Library and serves on the board of the Women’s Care Center.