Bloomberg News

Genworth’s Klein Says He Will Focus on Liquidity, Bondholders

May 02, 2012

Martin Klein, who was appointed yesterday as acting chief executive officer of Genworth Financial Inc., said he will concentrate on the insurer’s liquidity after the departure of CEO Michael Fraizer.

“We will be very focused on executing the actions needed to rebuild value for shareholders as well as bondholders,” Klein said today in a conference call held by the Richmond, Virginia-based insurer. “We’ll continue to meet the needs of our customers while we improve the performance of our businesses, maintain strong liquidity, and generate and manage capital.”

To contact the reporters on this story: Andrew Frye in New York at afrye@bloomberg.net; Zachary Tracer in New York at Ztracer1@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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