MBIA Inc. (the Company) announced that on March 7, 2024 the Company (together with its subsidiaries) entered into a Separation Agreement with its Executive Vice President and Chief Financial Officer, Mr. Anthony McKiernan. Under the Separation Agreement, effective April 30, 2024 Mr. McKiernan will step down from his position as Chief Financial Officer and will resign from all of his other positions with the Company. Mr. Joseph Schachinger, currently the Company?s Controller, will replace Mr. McKiernan as Chief Financial Officer effective April 30, 2024.

Prior to being named Controller in May of 2017, Mr. Schachinger served as Deputy Controller since 2009. Mr. Schachinger joined the Company in 2000 as a Vice President in the Controller?s Group.