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Genworth Board of Directors Adopts Majority Voting Policy for Uncontested Director Elections


RICHMOND, Va., Oct. 20 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that its board of directors has amended its corporate bylaws to adopt a majority voting policy for the election of directors.

"The board's action today strengthens our commitment to board accountability to shareholders and, we believe, is consistent with leading corporate governance practices," said Michael D. Fraizer, chairman and chief executive officer.

Under the amended bylaws, any director who receives more "withheld" votes than "for" votes in an uncontested election must promptly tender his or her resignation to the board.

The company's Nominating and Corporate Governance Committee will evaluate the tendered resignation and recommend to the board whether to accept the resignation. The board will decide whether to accept the resignation and will publicly disclose its decision and the reason for its decision.

About Genworth Financial

Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries. For more information, visit

SOURCE Genworth Financial, Inc.

CONTACT: Investors: Alicia Charity, +1-804-662-2248,, or
Media: Phil Moeller, +1-804-662-2534,,
both of Genworth Financial, Inc.

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Tim Owens – Investor Relations

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