Voya 2013 Annual Report Download - page 439

• We had strong stock performance in 2013, with our stock price increasing approximately 80%
between our initial public offering and the end of the year.
• Voya Financial completed its recapitalization plan, which included a $600 million primary equity
offering in May; three debt offerings (with an aggregate principal amount of $2.15 billion); and
the restoration of ordinary dividend capacity in our four principal insurance operating subsidiaries.
• We introduced our new brand, Voya Financial, to employees, customers, clients, distribution
partners and investors, and developed detailed plans for full operational rebranding in 2014.
Mr. Karaoglan significantly exceeded his key business objectives established for 2013. The Committee
considered the following factors in assessing Mr. Karaoglan’s performance, in his capacity as a member of
the OCEO:
• Mr. Karaoglan significantly contributed to the financial results of the Company, which met or exceeded
our targets with Net Income available to shareholders driven by strong Ongoing Business Operating
Earnings. The Closed Block Variable Annuity performance was actively and effectively managed so as
to protect regulatory and rating agency capital.
• Ongoing Business Adjusted Operating Return on Equity for the year was increased to 10.3% during
2013, well on track to meet the year-end 2016 target of 12% to 13%.
• Mr. Karaoglan significantly contributed to the achievement of key transformational objectives for the
Company during 2013. He was one of the key drivers in the development of compelling investment
narratives, based on capital and value creation, and prepared the Company to be publicly traded. As a
result of his efforts, we completed our IPO in May and a secondary offering of shares in October, thus
reducing ING Group’s ownership stake to approximately 57%.
Further,
• We had strong stock performance in 2013, with our stock price increasing approximately 80% between
our initial public offering and the end of the year.
• The businesses and functions led by Mr. Karaoglan achieved meaningful business and strategic targets
in 2013.
• Investment Management realized profitability and margin levels that were at historic highs, all
while concurrently undergoing significant cultural change.
• The functions met or exceeded key targets and also underwent significant leadership changes,
began a significant cultural transformation and launched Continuous Improvement so as to enable
employees to improve the ways in which they work and thereby deliver tangible economic
benefits.
• Mr. Karaoglan also successfully led the efforts to develop and began to implement our plans to
operationally rebrand, while maintaining our existing strong brand presence and awareness.
Mr. Steenbergen significantly exceeded our key business objectives for 2013. The Committee considered
the following factors in assessing Mr. Steenbergen’s performance, in his capacity as a member of the
OCEO:
• Mr. Steenbergen significantly contributed to the financial results of the Company, which met or
exceeded our targets, with Net Income available to shareholders driven by strong Ongoing Business
Operating Earnings. Capital generation during 2013 significantly exceeded our plan. Further, the
Closed Block Variable Annuity performance was actively and effectively managed so as to protect
regulatory and rating agency capital.
• Ongoing Business Adjusted Operating Return on Equity for the year was increased to 10.3% during
2013, well on track to meet the year-end 2016 target of 12% to 13%.Mr. Steenbergen helped to direct
the achievement of significant transformational objectives for the Company during 2013. He
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