NU Online News Service, May 11, 1:24 p.m. EDT
Armonk, N.Y.-based financial guarantee insurer MBIA Inc. said it has separated the positions of chairman and chief executive officer to "maintain the highest standards of corporate governance."
The company said that at the recommendation of CEO Jay Brown, MBIA named Daniel P. Kearney as non-executive chairman. Mr. Brown will continue as CEO and will remain a director.
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