Daniel R. Maurer
CNO Financial GroupAbout Daniel R. Maurer
Independent Board Chair of CNO Financial Group; age 68; director since 2015 and Board Chair since May 2018. Former Intuit senior executive (led Small Business Solutions Group; previously led TurboTax, Mint, and Quicken) with 20+ years of executive management at Procter & Gamble (15 years internationally) and VP of Strategy for Global Sales & U.S. Business at Campbell Soup. Education not disclosed in the proxy. Core credentials: consumer sales and product management, digital marketing, corporate affairs, technology and middle-market consumer insights.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Intuit Inc. | Senior management; led Small Business Solutions Group; previously led TurboTax, Mint, Quicken | 2006–2014 | Built significant digital marketing and product management capabilities |
| Procter & Gamble | Executive management roles (international) | 20+ years; 15 years internationally | Global consumer products leadership; brand and go-to-market expertise |
| Campbell Soup Company | Vice President, Strategy for Global Sales & U.S. Business | Not disclosed | Corporate strategy; sales alignment |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Zagg Inc. (formerly Nasdaq: ZAGG) | Director | 2012–2021 | Public company board experience |
| Checkpoint Systems, Inc. | Director | Jan 2016–May 2016 | Board service concluded upon sale of company |
| Iomega Corporation | Director | 2006–2008 | Public company board experience |
Board Governance
- Independence: Board determined Maurer is independent; only the CEO is non-independent among directors.
- Board leadership: Independent Chair structure; Board Chair and CEO roles separated. Chair duties include setting agendas, presiding over meetings and executive sessions, shareholder engagement, and evaluation oversight with Governance Chair.
- Committee roles: Chair, Executive Committee; ex officio member of other committees (no additional compensation).
- Attendance and engagement: In 2024, Board met 7 times and committees met 38 times; each director attended ~91% of aggregate Board/committee meetings; all directors attended the 2024 annual meeting.
- Board refreshment and evaluation: Active succession planning and annual evaluation process led by Governance Committee and Board Chair. Five new directors added over past five years.
- Risk oversight: Structured across Board and committees (Audit & Enterprise Risk, HRCC, Governance, Investment) with regular ERM reporting.
| Committee | Role | Notes |
|---|---|---|
| Executive | Chair | Handles matters between Board meetings; exercises Board authority as needed |
| Audit & Enterprise Risk | Ex officio (no extra pay) | Information security/cyber updates flow to AER; Chair presides over executive sessions of committee |
| Governance & Nominating | Ex officio (no extra pay) | Oversees governance policy, board refresh, conflicts, sustainability |
| Human Resources & Compensation | Ex officio (no extra pay) | Oversees executive compensation, succession, people strategy |
| Investment | Ex officio (no extra pay) | Reviews investment strategy, ALM, performance |
Fixed Compensation
| Component | Amount | Form | Notes |
|---|---|---|---|
| Board Service Retainer | $250,000 | $100,000 cash; ~$150,000 equity | Standard non-employee director retainer |
| Board Chair Retainer | $190,000 | $76,000 cash; ~$114,000 equity | Paid in addition to Board Service Retainer |
| 2024 Governance/Investment Committee Member Retainer change | +$5,000 each (to $10,000) | Cash | Effective May 9, 2024; structure review continues in 2025 |
| Executive Committee service | $0 | — | No additional compensation for service |
| 2024 Director Compensation (Maurer) | Cash ($) | Equity ($) | Total ($) |
|---|---|---|---|
| Actual Paid/Awarded | $176,000 | $264,028 | $440,028 |
Performance Compensation
| Equity Award | Grant Date | Units | Fair Value ($) | Vesting | Notes |
|---|---|---|---|---|---|
| RSUs (Annual Director Grants incl. Chair equity) | May 9, 2024 | 9,366 | $264,028 | Vested immediately upon grant | RSUs delivered as equity portion of Board Service + Chair retainers; eligible for deferral under Director Deferred Compensation Plan |
| Deferred Stock Units (2024 added) | May 9, 2024 | 9,366 | — | Vested; settlement deferred | Dividend equivalents accrue; one share issued per unit at end of elected deferral period |
| Total Deferred Stock Units (as of Mar 10, 2025) | — | 94,656 | — | Vested; settlement deferred | Not voting; aligns long-term ownership |
Director equity awards are time-based (no performance metrics). The Director Deferred Compensation Plan allows deferral of equity with dividend equivalents until settlement.
Other Directorships & Interlocks
| Company | Relationship | Potential Interlock/Conflict |
|---|---|---|
| Zagg Inc.; Checkpoint Systems; Iomega | Prior public company directorships | Not in CNO’s industry; no disclosed related-party dealings with CNO |
Expertise & Qualifications
- Consumer sales and product management; digital marketing; technology and financial services insights; corporate affairs and management.
- Board governance experience as independent Chair; leads executive sessions and shareholder engagement.
Equity Ownership
| Measure | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | 24,624 | Held in a revocable trust; <1% of outstanding shares |
| Ownership as % of shares outstanding | <1% | Based on 100,286,237 shares outstanding (Mar 10, 2025) |
| Deferred stock units (total) | 94,656 | Vested units elected for deferral |
| 2024 deferred units added | 9,366 | RSUs received and deferred in 2024 |
| Hedging/pledging | Prohibited | Company prohibits directors from hedging, pledging or derivative transactions in CNO stock |
| Stock ownership guideline | 5x annual base cash compensation | Each director with ≥5 years on Board meets guideline; Maurer meets guideline |
Governance Assessment
- Board leadership and independence: Strong separation of Chair/CEO with an independent Chair; routine executive sessions led by Chair; independence affirmed annually. This structure supports objective oversight and effective engagement.
- Attendance and engagement: High meeting cadence (45 total Board/committee meetings) and ~91% attendance per director indicate active oversight; all directors attended the 2024 annual meeting.
- Compensation alignment: Director pay is heavily equity-weighted (Maurer ~60% equity in 2024), with immediate vesting and optional deferral that promotes long-term alignment; stringent ownership guidelines (5x cash) and anti-hedging/pledging policies mitigate misalignment risk.
- Related-party/conflict controls: Governance Committee reviews and approves related-person transactions; 2024–2025 approvals limited to arms-length investment management arrangements with a >5% holder (BlackRock) and ~$100k fees paid. No other related-person transactions disclosed.
- Compensation committee and consultant: HRCC is fully independent; WTW engaged as independent consultant (assessed for independence) with $287,222 paid for executive compensation services; management separately engaged WTW subsidiaries for other services ($36,320,822) which the HRCC disclosed and assessed—this is a monitoring point but independence was affirmed.
- Shareholder signals: Strong say-on-pay support (>93% in 2024) and proactive shareholder outreach (invited 55% of outstanding shares; engaged ~45%) with director participation on governance/comp topics supports investor confidence.
RED FLAGS
- None disclosed regarding related-party transactions, hedging/pledging, or attendance. Monitor ongoing use of WTW for non-compensation services to ensure continued independence and avoidance of perceived consultant conflicts.