Aflac President Paul Amos Leaving the Company
Friday, June 9th, 2017
Aflac, the leading provider of voluntary insurance at the work site in the United States, announced that Paul S. Amos, II has resigned from his position as President of Aflac and from the Board of Directors of Aflac Incorporated to join a private equity firm, effective July 1. Dan Amos, Chairman and Chief Executive Officer, is assuming the title of President of Aflac and associated responsibilities. Additional responsibilities will be shared by select members of the executive management team in Japan and the U.S.
Upon his resignation, Paul Amos said, "I have been fortunate to be involved with this company my entire life. I've enjoyed it and have decided it's time for me to look forward to the next phase."
Aflac Chairman and Chief Executive Officer Dan Amos remarked, "As a CEO, it has been a privilege to work with Paul and see firsthand all of the contributions he has made to our continuing success in the Japanese market. As a father, I wish him the very best as he enters this new chapter."
Dan Amos added, "Over the past year and during his two years prior to that living and working in Japan, Paul has been instrumental in preparing the leadership team at Aflac Japan to transition under Masatoshi Koide, who is a strong leader with a solid track record of results. I fully expect a very smooth transition on July 1 and continued success of our Japan operations under Masatoshi's leadership and with Charles Lake continuing to serve as Chairman of Aflac Japan as well as Hiroshi Yamauchi serving as Vice Chairman of Aflac Japan."
Paul S. Amos II, whose vision and leadership helped make Aflac Inc. one of the most iconic and successful insurance companies in the world, is joining Jordan Blanchard Capital LLC as a Director. With his arrival, the company will rename itself JBA Capital, in acknowledgement of the contributions Mr. Amos is expected to make.
"We're thrilled that Paul is joining Jordan Blanchard Capital as a partner in our efforts going forward,'' Said Gunby J. Garrard, president of Jordan Blanchard Capital. "His experience and relationships are key to our plans to grow and build great businesses."
Mr. Amos, 41, joined Aflac in 1991 at the age of 15, answering phones in the company's investor relations office. In 2013, he became president of the company, charged with directing the company's global strategy and directly overseeing Aflac Japan. Aflac Japan is the company's largest earnings contributor, providing 75% of its worldwide revenue.
The American Family Life Insurance Company was co-founded by Mr. Amos's grandfather in Columbus in 1955. Aflac, as it is now known, is the largest supplier of supplemental health insurance in the US.
Aflac has a market capitalization of about $30 billion, annual revenue of about $22 billion and over 9,000 employees worldwide. But despite its size, Aflac has always retained the flavor of a family enterprise, still headquartered in Columbus and managed over its six decades of existence by members of the Amos family.
"It's tough leaving the business my grandfather built and my father runs and I will forever bleed Aflac blue," Mr. Amos said. "But entrepreneurship runs in my genes and that's really at the heart of my decision to leave. I want to be part of an enterprise I can help scale up and build out. "
JBA Capital is a private investment firm that focuses on the long-term acquisition of quality businesses in the Southeastern US. Paul Amos was one of JBA Capital's first investors. Among the Directors at JBA Capital are William R. Blanchard, the former President and CEO of Columbus Bank & Trust, who joined the firm earlier in the year.
"I will be forever grateful for the opportunities afforded to me at Aflac, which came about largely through the unflagging efforts of my family,'' Paul Amos said. "But I'm looking forward to feeling the sort of satisfaction that one only gets by building a great company from the ground up.
"Aflac has never been on stronger financial footing or in more capable hands,'' Mr. Amos said. "The time is right to head out on my own.''
Mr. Amos will assume his duties at JBA Capital on September 1.