Patrick Sinks will replace Curt S. Culver as CEO of MGIC Investment Corp., effective March 1, 2015, when Culver is set to retire, the company recently announced.
Sinks has also been appointed to the board of directors. He is currently president and chief operating officer (COO).
Culver began his career in the mortgage insurance business in 1976, joining MGIC in 1982. He became president in 1999 and was CEO and president from 2000 to 2006. He has served as CEO and chairman of the board since 2005.
Sinks has served as president and COO since 2006. Previously, he served as executive vice president, field operations, from 2002. Sinks has also served as senior vice president, controller and chief accounting officer, and before that he held a variety of positions within the accounting and finance departments.
‘I have been very fortunate to have had a long and successful career with a wonderful company and to have worked with so many talented people,’ Culver says in a statement. ‘[Sinks] has been a very important contributor to our company's success since he joined us 36 years ago. We have a tradition of internally developing our CEOs and I am proud that we have someone of [Sinks'] caliber and expertise to lead us. I am confident that [Sinks'] extensive industry knowledge, client-first approach and strategic vision will enable our company to prosper well into the future.’
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