Voya 2014 Annual Report Download - page 14

As fulfilling as it has been to achieve all that we have,
I and the entire management team at Voya Financial
continue to challenge ourselves — every day. We are
focused on building our momentum and raising the bar
to drive further value improvement. In February 2015,
we announced our new Adjusted ROE4 targets of 13% to
14% by year-end 2018. To achieve this, we will continue
to drive improvement in each of our businesses. We
also plan to strategically invest $300 to $350million
over the next four years to develop next generation
customer experiences and solutions. These invest-
ments are designed to drive ROE expansion, increase
free cash flow and accelerate earnings growth. At our
Investor Day meeting on June2, 2015, we will provide
more detail on our plans, which I look forward to sharing
with you.
For those who have been a part of Voya Financial’s
transformation over the past several years, you know
our journey has been one filled with excitement,
challenges, opportunities and value creation. Key to our
approach has been the belief that transparency is cru-
cial in our discussions with all of our stakeholders. That
philosophy endures and, as we move forward, I’m con-
fident that you will continue to see tangible evidence of
our values, our energy and our commitment to results.
Most important, you will see us changing the way you
think of retirement.
Thank you for your support and for your confidence in
Voya Financial.
Sincerely,
Rodney O. Martin, Jr.
Chairman of the Board and Chief Executive Ocer
Voya Financial, Inc.
March 17, 2015
4 Excludes expenses associated with investments in new ROE expansion plan.
We have great people and
a focus on doing what’s right
As a new kind of financial company, our employ-
ees have been a driving force behind what we have
achieved not just in the oce, but outside of it as well.
Last year, Voya Financial employees raised more than
$4.6million for over 5,000charitable organizations
through our annual employee giving campaign. In
addition, last May, I joined over 3,000of our employees
as we volunteered close to 9,000hours of community
service in our first-ever Voya Financial National Day of
Service. The day was tremendous, it was inspirational
and it demonstrated the genuine commitment of our
people to corporate social responsibility. Recently, Voya
Financial was once again recognized by the Ethisphere
Institute as one of the World’s Most Ethical Companies.
We first received this honor in 2014 and it’s a great
endorsement of our company, our employees and
our values.
We have a new culture
All of the achievements I have mentioned would not
have been possible without the cultural transformation
that we have driven over the past several years. Our
new culture has been key to our improved financial
performance. It also is the driver behind our Continuous
Improvement eorts, a methodology that draws on the
knowledge and experience of our front-line employees
and managers, involving everyone in optimizing quality,
eciency and problem solving. As of the end of 2014,
roughly 30% of our employees had been through a
Continuous Improvement initiative and we expect this
to increase to 45% by the end of 2015.
We have made great progress
as an independent company
In 2014, ING Group reduced its ownership stake in Voya
Financial from 57% at the beginning of the year to 19% in
November. Following this, we reached a significant mile-
stone in Voya Financial’s progress when ING Group sold
its remaining 19% stake on March 9, 2015. As a result
of ING Group’s reduced ownership stake in 2014, John
Boers, Patrick Flynn, Dick Harryvan, Henny Koemans
and Wilfred Nagel, who had each been designated by
ING Group to serve on Voya Financial’s board, stepped
down. I’m very grateful for the support and guidance
they provided as members of our board. At the same
time, I was very pleased to welcome Lynne Biggar, Jane
Chwick and Debbie Wright to the board. Each of them —
along with existing board members Barry Griswell, Fred
Hubbell and David Zwiener — has a distinguished and
unique background that I know will be extremely
valuable as we pursue the next phase of our evolution.
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