Insurance giant USAA is facing a change in management next year now that long-time CEO Joe Robles Jr. has announced he is entering retirement.
Robles, who served 28 years in the Army, first served on the USAA Board of Directors and joined the company as chief financial officer and controller in 1994. He also served as corporate treasurer and chief administrative officer before taking the helm as CEO and president in 2007.
Robles was instrumental in expanding USAA membership eligibility to all who have served honorably in the military and their family members. Robles helped the company become part of the White House Joining Forces Initiative, and in 2013, more than 30 percent of new hires were veterans and military spouses.
Robles announced his retirement Friday, saying in early 2015 it will be time to pass the leadership on to the next CEO, giving USAA a full year to find a replacement.
"Retiring one year from now will be the right time for USAA — and right for my family and me," Robles said.