Supplemental insurance giant Aflac Inc. announced June 8 that Paul S. Amos II has resigned as president to pursue a new career path, effective July 1.
Dan Amos, 65, chairman and CEO and Paul’s father, is to become president of the Columbus, Ga.-based company, which earns some 75 percent of its revenues in Japan from sales of life, cancer and other insurance products.
Paul, 41, told the Columbus Ledger-Enquirer in an interview that he had worked for Aflac since age 15 and was ready for a new challenge. He will join private equity firm Jordan Blanchard Capital, which will become JBA Capital when he’s added as a director.
“I have been fortunate to be involved with this company my entire life. I’ve enjoyed it and have decided it’s time for me to look forward to the next phase,” Mr. Amos said in a news release.
The younger Mr. Amos worked over the last year in the U.S., but before that, he spent two years running the global company from Japan after his elevation to president of Aflac Inc. in 2013. Before that, he had been president and COO of Aflac U.S. His work in shoring up the all-important Japanese market made his father most proud.
“As a CEO, it has been a privilege to work with Paul and see firsthand all of the contributions he has made to our continuing success in the Japanese market,” Dan Amos said in the release. “As a father, I wish him the very best as he enters this new chapter.”
A public Fortune 500 company with revenues of $22.5 billion in 2016, Aflac has been run by the Amoses since three brothers founded the firm in 1955.
The company posted revenues of $5.2 billion in the first quarter of 2017, a 1.6 percent drop compared to the same period last year. A stronger Japanese yen added to operating income but hurt dollar-denominated investments.
Aflac Japan said April 25 that it would promote Masatoshi Koide to president and chief operating officer effective July 1. Hiroshi Yamauchi, who previous served in those roles, will become vice chairman.
Paul Amos hinted in the JBA Capital news release that he was ready to try blazing his own trail after years fulfilling roles enabled by his family.
“”I will be forever grateful for the opportunities afforded to me at Aflac, which came about largely through the unflagging efforts of my family,” reads his statement in the release. “But I’m looking forward to feeling the sort of satisfaction that one only gets by building a great company from the ground up.”
Read more from Global Atlanta: The History of How Aflac’s Japan Bet Paid Off