SAN ANTONIO – USAA announced on Monday that president and CEO Wayne Peacock plans to retire in the first half of 2025 after a 36-year career with the company.
“Serving our members has been my greatest honor. Each day, I am inspired by our teammates, who deliver on the mission and go above and beyond when our members need us most,” said Peacock. “I’m grateful for the trust millions of military families place in us to help them achieve financial security.”
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Peacock has been a part of the company since 1988. Peacock became CEO in 2020 after taking over for former president and CEO Stuart Parker’s position.
Peacock is the first non-military person leader at the San Antonio-based company.
Through Peacock’s time as CEO, he helped the company get through the coronavirus pandemic, increased USAA’s minimum pay, provided paid career development time and enhanced benefits for employees to have mental health and family support aid, according to a company press release.
His leadership also helped return almost $2 billion in distributions, dividends, bank rebates, and rewards to members annually, the release adds.
“The Board is evaluating its list of internal and external candidates, and Wayne will stay onboard to ensure a smooth transition,” said USAA Board Chairman Jim Zortman.