Ambac Appoints Kristi A. Matus and Michael D. Price to Its Board of Directors
22 Juin 2023 - 6:34PM
Business Wire
Ambac Financial Group, Inc. (“Ambac”) (NYSE: AMBC), a financial
services holding company, announced the appointment of Kristi A.
Matus and Michael D. Price as members of its Board of Directors,
effective today. Ms. Matus will be a member of the Board’s Audit
and Compensation committees, while Mr. Price will be a member of
the Audit and Strategy committees.
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Kristi A. Matus has joined the Board of
Directors of Ambac Financial Group (Photo: Business Wire)
“We are pleased to welcome Kristi Matus and Michael Price to
Ambac’s Board of Directors,” said Jeffrey S. Stein, Chairman of the
Board. “Their insurance, business and leadership experience will be
a tremendous asset to Ambac as we continue to enhance long-term
shareholder value.”
Ms. Matus has more than 30 years of insurance, risk management,
and investment experience. Most recently she was the Chief
Financial Officer and Chief Operating Officer of Buckle Agency LLC.
from 2020 through July 2022. She was also an Executive Advisor for
Thomas H. Lee Partners L.P. from 2017 to 2020, advising the senior
team within the healthcare IT portfolio on strategy, talent, and
team integration prior to an acquisition. She previously served as
Executive Vice President and Chief Financial & Administrative
Officer of athenahealth, Inc., a company partnering with healthcare
organizations across the care continuum to drive clinical and
financial results through technology, insight, and expertise. Prior
to joining athenahealth, Ms. Matus served as Executive Vice
President and Head of Government Services of Aetna, Inc., managing
the Medicare, Medicaid, public and labor and Federal employee
health plans. Prior to Aetna, she held several senior leadership
roles at United Services Automobile Association (“USAA”), including
Executive Vice President and Chief Financial Officer. She began her
career at Thrivent, where she held various financial and
operational roles for over a decade.
Ms. Matus is currently a member of the Board of Directors of
Equitable Holdings, Inc., Cerence, Inc., and AllianceBernstein
Holdings, L.P.
Mr. Price is former President and Chief Executive Officer of
Platinum Underwriters Holdings, Ltd., a position he held from 2005
until the company’s acquisition by RenaissanceRe Holdings Ltd. in
2015. Platinum Underwriters Holdings provided property and casualty
reinsurance coverages to insurance and select reinsurers worldwide.
Prior to that, Mr. Price served briefly as Platinum’s Chief
Operating Officer, and was President of Platinum US from 2002 until
2005. Mr. Price was Chief Underwriting Officer of Platinum’s
predecessor, the former reinsurance segment of The St. Paul
Companies, Inc. Prior thereto, he was Chief Operating Officer of
Associated Aviation Underwriters Incorporated, a subsidiary of
Global Aerospace Underwriting Managers Ltd., a leading global MGU
of aviation insurance and risk management solutions. Earlier in his
career, he held progressively senior roles within other companies
in the property and casualty insurance industry.
Mr. Price is a Fellow of the Casualty Actuarial Society and
holds the Financial Risk Manager designation of the Global
Association of Risk Professionals. Mr. Price was a member of the
Board of Directors of The Hanover Insurance Group, Inc. from July
2017 until May 2020.
“Kristi and Michael join the Board at a pivotal time in Ambac’s
history,” Ambac CEO Claude LeBlanc said. “Having successfully
resolved our most significant legacy business challenges last year,
Ambac is well positioned to accelerate its key growth initiatives.
Kristi and Michael’s added industry expertise to our Board will
help us progress these goals and further advance our specialty
P&C insurance strategy."
About Ambac
Ambac Financial Group, Inc. (“Ambac” or “AFG”) is a financial
services holding company headquartered in New York City. Ambac’s
core business is a growing specialty P&C distribution and
underwriting platform. Ambac also has a legacy financial guaranty
business in run off. Ambac’s common stock trades on the New York
Stock Exchange under the symbol “AMBC”. Ambac is committed to
providing timely and accurate information to the investing public,
consistent with our legal and regulatory obligations. To that end,
we use our website to convey information about our businesses,
including the anticipated release of quarterly financial results,
quarterly financial, statistical and business-related information.
For more information, please go to www.ambac.com.
The Amended and Restated Certificate of Incorporation of Ambac
contains substantial restrictions on the ability to transfer
Ambac’s common stock. Subject to limited exceptions, any attempted
transfer of common stock shall be prohibited and void to the extent
that, as a result of such transfer (or any series of transfers of
which such transfer is a part), any person or group of persons
shall become a holder of 5% or more of Ambac’s common stock or a
holder of 5% or more of Ambac’s common stock increases its
ownership interest.
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version on businesswire.com: https://www.businesswire.com/news/home/20230622048794/en/
Investors: Charles J. Sebaski Managing Director, Investor
Relations (212) 208-3177 csebaski@ambac.com Media: Kate Smith
Director, Corporate Communications (212) 208-3452
ksmith@ambac.com
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