MBIA Inc. announced that Chuck Chaplin will be retiring from the company effective January 1, 2017. Under the Separation Agreement, Mr. Chaplin will step down from his position as Co-President, Chief Financial Officer and Chief Administrative Officer effective March 11, 2016 but will remain an employee of the Company with the title of Executive Vice President until January 1, 2017. Mr. Anthony McKiernan, currently an Executive Vice President and the Chief Portfolio Officer of the Company, will replace Mr. Chaplin as Chief Financial Officer effective March 11, 2016.

Mr. McKiernan has been Executive Vice President and Chief Portfolio Officer since May 1, 2012 and before that Vice President and Chief Portfolio Officer since August 3, 2011.