Financial Chairman and CEO Rodney O. Martin Jr. will take over from Maliz Beams, who was most recently the CEO of the Voya's retirement solutions business.

Voya Financial, Inc. announced that its retirement solutions business, which consists of the retirement and annuities segments, will be led directly by Voya Financial Chairman and CEO Rodney O. Martin Jr. The change is effective immediately.

"Over the past few years, we have made significant progress toward achieving our long-term objectives and our vision to be America's retirement company," said Martin in a statement. "In considering the significant role that our retirement solutions business plays both in our financial performance and in our value proposition, at this time I have decided to directly oversee the next phase of the business's growth and expansion."

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