RICHMOND, Va. (AP) — Genworth Financial Inc. said Tuesday that Chairman and CEO Michael D. Fraizer has resigned, and the board has tapped Chief Financial Officer Martin P. Klein to fill as CEO while it searches for a successor.

Fraizer helped steer the insurer through its initial public offering by GE in 2004 and the recent financial and housing crisis. In a statement, he said this is “the right time for me to move on to other opportunities.”

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