8-K: MGIC Investment Corporation Announces Departure of Chief Information Officer
Executive Departure Announcement
MGIC Investment Corporation announced the separation of Robert J. Candelmo, Senior Vice President and Chief Information Officer of its subsidiary, Mortgage Guaranty Insurance Corporation, effective June 11, 2025.
Summary
- MGIC Investment Corporation reported the departure of Robert J. Candelmo, who served as Senior Vice President and Chief Information Officer of its wholly-owned subsidiary, Mortgage Guaranty Insurance Corporation.
- Mr. Candelmo's separation from service was effective June 11, 2025.
- He is eligible to receive severance benefits in accordance with the company's Executive Severance Plan, contingent upon his execution of a release of claims.
- Details of the Executive Severance Plan are outlined in the company's 2025 Definitive Proxy Statement on Schedule 14A, filed with the SEC on March 21, 2025.
Sentiment
Score: 5
Explanation: Neutral. The document reports a standard executive departure with severance, which is a routine corporate event and does not inherently indicate positive or negative sentiment without further context on the reason for departure or replacement plans.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Senior Vice President, Chief Information Officer | Robert J. Candelmo | N/A | 2025-06-11 | Separation from service |
Key Dates
| Date | Description |
|---|---|
| 2025-03-21 | Date of filing of the Company's 2025 Definitive Proxy Statement on Schedule 14A, which describes the Executive Severance Plan. |
| 2025-06-11 | Effective date of separation from service for Robert J. Candelmo, Senior Vice President, Chief Information Officer. |
| 2025-06-13 | Date the Form 8-K was signed by MGIC Investment Corporation. |
Recommendation
holdKeywords
MGIC Investment Corporation, MTG, Mortgage Guaranty Insurance Corporation, Chief Information Officer, CIO, Executive Departure, Severance Plan, SEC Filing, 8-K
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