Radian CEO Rick Thornberry Announces Intent to Retire, Board Appoints Mike Weinbach as His Successor

The companys Board of Director's has appointed Mike Weinbach as CEO-Elect starting June 1, 2026. He will officially become CEO, and join the Board on 13 August 2026. Thornberry will remain with the company as a strategic advisor until his retirement on December 31, 2026, to help ensure a smooth leadership transition.

Since becoming CEO in 2017, Thornberry has helped more than triple Radian’s book value per share, including dividends, with a 13.4% annual growth rate. He also strengthened the company’s operations and financial position to support its long-term growth strategy.

That strategy reached a major milestone earlier this year with Radian’s $1.7 billion acquisition of Inigo Limited, a well known Lloyd’s specialty insurer offering a wide range of specialty insurance products. The deal, completed on February 2, 2026, expanded Radian into the global specialty insurance market, and increased its growth opportunities.

Mike Weinbach is an experienced executive with more than 30 years of leadership in financial services, technology and data-driven businesses. Throughout his career, he has led large organizations through growth and transformation.

Most recently, he served as President of Mr. Cooper Group, where he helped lead the company through it's acquisition by Rocket Companies in 2025. He also drove technology initiatives that improved customer experience and expanded the company’s mortgage servicing and lending business.

Before that, Weinbach was CEO of Consumer Lending at Wells Fargo, overseeing businesses including home, auto, student and personal loans, credit cards, and merchant services, while managing a team of more than 40,000 employees.

Earlier in his career, Weinbach spent 16 years at JPMorgan Chase, eventually becoming CEO of Chase Home Lending after holding several leadership positions across consumer banking and lending. He began his career as an M&A investment banker at Citigroup. Weinbach earned an MBA from Harvard Business School and a degree in economics from The Wharton School at the University of Pennsylvania.

“Selecting a CEO is one of the Board’s most important responsibilities, and we approached the process with the rigor it deserves, engaging with Russell Reynolds Associates, a global executive search and leadership advisory firm, to ensure we considered the best leadership talent available,” said Culang.

Said Culang, “In Mike, we found someone who distinguished himself throughout the process – not only for his track record of leading large, diversified, and complex businesses, but for the thoughtfulness and discipline with which he thinks about the road ahead. Radian is exceptionally well-positioned, and we have full confidence that Mike is the right leader to build on that foundation.”

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"Radian has established itself as a truly differentiated company – a best-in-class mortgage insurance business with deep customer relationships, financial discipline, and now a global specialty platform with significant runway," said Weinbach. “I’m coming in with great respect for what Rick and this team have built and a clear focus on what comes next – executing the strategy, investing in our people, and delivering long-term value for our customers and stockholders. I’m looking forward to working with this exceptional team.”

“Rick's impact on Radian over the last nine years cannot be overstated,” said Howard Culang, Non-Executive Chairman of the Board. “Under his leadership, Radian evolved from a strong domestic franchise into a diversified, global company with the financial strength, talent, and strategic positioning to compete and win for years to come. The Inigo acquisition represents a defining moment in Radian’s history, and it happened because of Rick’s vision, discipline, and entrepreneurial leadership. On behalf of the entire Board, we are deeply grateful for his leadership and the remarkable legacy he leaves.”

“It has been a privilege to lead the Radian team, and I am deeply proud of all that we have accomplished together,” said Thornberry. “We set out to build a company that could grow and perform across market cycles – one with the financial strength, the culture, the disciplined approach to risk and capital, and a genuine commitment to our customers and stockholders, and I believe we have done that."

Thornberry said, "The addition of Inigo is the clearest expression of that ambition, expanding our business and offering a growth runway that was previously unavailable to us. Mike is a proven leader with the experience, discipline and people first approach this company deserves, and I look forward to working closely with him to ensure a seamless transition."

About Radian

Radian Group Inc. is a global specialty insurance company that helps businesses manage risk with confidence. Supported by strong financial performance, and careful risk management, the company provides clear insights, and a global perspective to help clients make better risk decisions.

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