Radian CEO Ibrahim to Retire After Leading Insurer Since 2005
- Company hired search firm Spencer Stuart to find replacement
- Ibrahim has been an ‘inspirational leader,’ chairman says
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Radian Group Inc., the second-largest U.S. mortgage insurer, said Chief Executive Officer S.A. Ibrahim will step down at the end of next year after steering the company through the financial crisis as weaker rivals collapsed.
The board has appointed a committee to seek a replacement and hired executive search firm Spencer Stuart, the Philadelphia-based insurer said Tuesday in a statement. Radian will consider both internal and external candidates.