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July 13, 2022

Voya Financial names new Windsor-based CEO

Contributed Heather Lavallee and Rodney O. Martin, Jr.
By Andrew Larson

Voya Financial, a provider of retirement plans and voluntary employee benefits, has named Windsor-based Heather Lavallee as its new CEO effective Jan. 1, 2023.

Lavallee, 52, is currently the chief executive officer of Voya’s Wealth Solutions business. She joined Voya in 2008.

She will succeed 70-year-old Rodney O. Martin Jr. when he steps down at the end of the year. Martin, who also serves as chairman of Voya’s board of directors, will become executive chairman. He has been CEO since 2011.

In addition, Lavallee was appointed to Voya’s board of directors, which consists mainly of women, as of last week.

As CEO of the Wealth Solutions business, Lavallee delivered record earnings during 2021, Martin said.

“Heather has distinguished herself as an extraordinary executive focused on growth, innovation and culture,” the outgoing CEO said. “Working closely with me, our board and our entire management team, Heather has played a vital role in shaping and driving Voya’s enterprise growth strategy – and is well-prepared to lead its continued execution and evolution going forward.”

Lavallee served as the first executive sponsor for Voya Cares, the company’s program focused on serving people with disabilities and special needs, and their caregivers.

Before leading Voya’s Wealth Solutions business, Lavallee served as president of Voya’s Tax-Exempt Markets and, earlier, as president of the company’s Employee Benefits business. Her 30-year career also includes leadership roles at Mutual of Omaha and Sun Life New York Insurance and Annuity Company.

“We are well positioned for continued growth across each of our businesses – delivering greater value for all of our stakeholders,” Lavallee said, noting that the company is “equally well positioned to continue positively impacting society through the solutions that we provide, the corporate responsibility that we demonstrate, and the positive impact that we make in the communities in which we live and work.”

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