Aflac Names Max K. Brodén Deputy Chief Financial Officer and Treasurer, Aflac Incorporated; Steven K. Beaver Chief Financial Officer of Aflac U.S.; J. Pete Kelso Chief Information and Technology Officer of Aflac Incorporated

May 6, 2019 |

8 min read

Aflac Incorporated announced that Max K. Brodén has been named senior vice president; deputy chief financial officer and treasurer of Aflac Incorporated, reporting to Aflac Incorporated Executive Vice President and Chief Financial Officer Frederick J. Crawford.

COLUMBUS, Ga., May 6, 2019 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) announced today that Max K. Brodén has been named senior vice president; deputy chief financial officer and treasurer of Aflac Incorporated, reporting to Aflac Incorporated Executive Vice President and Chief Financial Officer Frederick J. Crawford. In his new role, Brodén is responsible for enterprise corporate development, investor and rating agency relations, corporate finance, enterprise capital management and financial planning and analysis.

Brodén joined Aflac in 2017 as senior vice president and treasurer. Prior to joining Aflac, he served as senior portfolio manager for Norges Bank, managing an equity portfolio of diversified global financial and insurance stocks. Brodén also previously worked at DnB Nor Asset Management in Stockholm and New York and Skandia Asset Management in Stockholm.

Aflac Incorporated also announced today that Steven K. Beaver has been named senior vice president; chief financial officer, Aflac U.S., reporting to President of Aflac U.S. Teresa L. White. In this role, Beaver is responsible for financial reporting, financial planning and analysis, actuarial, risk, strategic sourcing and project management of the Aflac U.S. segment.

Beaver joined Aflac in 2012 as vice president of Corporate Tax. He was promoted to deputy chief accounting officer in 2015, responsible for overseeing Aflac’s SEC and statutory financial reporting, treasury services and tax functions. In January 2017, he was named senior vice president of Global Strategic Projects, responsible for overseeing the conversion of Aflac’s Japan branch to a subsidiary and monitoring the U.S. tax reform. In 2018, Beaver was named senior vice president of corporate financial planning and analysis. Prior to joining Aflac he was vice president of Corporate Tax for Nationwide.

Aflac Incorporated also announced today that J. Pete Kelso has been named senior vice president; chief information and technology officer, Aflac Incorporated, reporting to Aflac Incorporated Executive Vice President and Chief Financial Officer Frederick J. Crawford. Kelso has direct responsibility for corporate and Aflac Global Investments IT strategy and will partner with the chief technology officers of Aflac U.S. and Aflac Japan in coordinating enterprise technology strategy, including global automation, cloud computing and data management.

Kelso joined Aflac in 2012 as managing director and chief investments technology officer of Global Investments. In 2016 his role was expanded to also include management of the information technology platforms for Aflac’s global corporate functions. Prior to joining Aflac, he served as managing director; head of technology for asset management in Deutsche Bank Group’s Global Technology organization. Prior to that, Kelso held progressively responsible roles at Merrill Lynch Investment Management, Bankers Trust Asset Management division and Northern Telecom.

Commenting on the announcements, Aflac Incorporated Executive Vice President and Chief Financial Officer Frederick J. Crawford commented: “Max, Steve, and Pete have been significant contributors to the success of Aflac and together have led a number of critical financial and operational strategies for the company. Max’s newly developed role recognizes the breadth and impact of his responsibilities and the importance of connecting corporate finance, capital management and corporate development activities to growth in shareholder value. Steve’s newly developed role as CFO of Aflac U.S., together with Todd Daniel’s role as chief financial officer of Aflac Japan, rounds out our segment executive-level financial, risk and actuarial oversight, given increased investment in growth and efficiency efforts. Finally, Pete Kelso has a proven track record of IT execution and the realization of value. Pete’s new role recognizes the importance of coordinating Aflac’s approach to technology platforms, next generation solutions on digital, data management and cloud-based solutions. Pete will chair a newly formed Global Technology Committee that includes executive technology and operating officers from our U.S. and Japan business segments and Aflac Corporate Ventures. I look forward to their continued strong financial and technology leadership and building upon Aflac’s industry leading franchise to drive increased shareholder value.”

ABOUT AFLAC
Aflac Incorporated (NYSE: AFL) is a Fortune 500 company, helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when policyholders get sick or injured. For more than six decades, insurance policies of Aflac Incorporated’s subsidiaries have given policyholders the opportunity to focus on recovery, not financial stress. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan where it insures 1 in 4 households. Through its trailblazing One Day Pay^SM initiative in the United States, for eligible claims, Aflac can process, approve and electronically send funds to claimants for quick access to cash in just one business day. For 13 consecutive years, Aflac has been recognized by Ethisphere as one of the World’s Most Ethical Companies. In 2018, Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for the 20th consecutive year and in 2019 Fortune included Aflac on its list of World’s Most Admired Companies for the 18th time. To find out more about One Day Pay^SM and learn how to get help with expenses health insurance doesn’t cover, get to know us at aflac.com or aflac.com/espanol.

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

FORWARD-LOOKING INFORMATION
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. The company desires to take advantage of these provisions. This document contains cautionary statements identifying important factors that could cause actual results to differ materially from those projected herein, and in any other statements made by company officials in communications with the financial community and contained in documents filed with the Securities and Exchange Commission (SEC). Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Furthermore, forward-looking information is subject to numerous assumptions, risks and uncertainties. In particular, statements containing words such as “expect,” “anticipate,” “believe,” “goal,” “objective,” “may,” “should,” “estimate,” “intends,” “projects,” “will,” “assumes,” “potential,” “target,” “outlook” or similar words as well as specific projections of future results, generally qualify as forward-looking. Aflac undertakes no obligation to update such forward-looking statements.

The company cautions readers that the following factors, in addition to other factors mentioned from time to time, could cause actual results to differ materially from those contemplated by the forward-looking statements: difficult conditions in global capital markets and the economy; exposure to significant interest rate risk; concentration of business in Japan; foreign currency fluctuations in the yen/dollar exchange rate; operation of the former Japan branch as a legal subsidiary; limited availability of acceptable yen-denominated investments; deviations in actual experience from pricing and reserving assumptions; ability to continue to develop and implement improvements in information technology systems; governmental actions for the purpose of stabilizing the financial markets; interruption in telecommunication, information technology and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; ongoing changes in the Company’s industry; failure to comply with restrictions on patient privacy and information security; extensive regulation and changes in law or regulation by governmental authorities; changes in tax rates applicable to the company; defaults and credit downgrades of investments; ability to attract and retain qualified sales associates, brokers, employees, and distribution partners; decline in creditworthiness of other financial institutions; subsidiaries’ ability to pay dividends to Aflac Incorporated; decreases in the Company’s financial strength or debt ratings; inherent limitations to risk management policies and procedures; concentration of the Company’s investments in any particular single-issuer or sector; differing judgments applied to investment valuations; ability to effectively manage key executive succession; significant valuation judgments in determination of amount of impairments taken on the Company’s investments; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, war or other military action, terrorism or other acts of violence, and damage incidental to such events; changes in U.S. and/or Japanese accounting standards; loss of consumer trust resulting from events external to the Company’s operations; increased expenses and reduced profitability resulting from changes in assumptions for pension and other postretirement benefit plans; level and outcome of litigation; and failure of internal controls or corporate governance policies and procedures.

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