Elizabeth A. Monrad, TIAA-CREF executive vice president and CFO, requested and was granted an unpaid leave of absence after she received notice she may face enforcement action from the SEC in connection with her previous employment at General Re Corp., according to a TIAA-CREF statement.
Ms. Monrad notified TIAA-CREF executive management that she had received the notice. Stephanie Cohen Glass, TIAA-CREF director-corporate communications, was unable to say when Ms. Monrad told TIAA-CREF officials that she had received the notice but said they took action on the leave today.
Ms. Cohen Glass declined to comment on what Ms. Monrad's future with TIAA-CREF might be, regardless of the disposition of any SEC investigation.
Ms. Monrad joined TIAA-CREF in 2003; she was CFO at General Re.
Russell Noles was named acting CFO, effective immediately, the statement said. Mr. Noles, who was vice president, internal audit, will relinquish his previous duties.
Arlen Copenhaver, an associate auditor, will lead the company's internal audit function in place of Mr. Noles for the interim.
General Re is owned by Berkshire Hathaway Inc., which is controlled by Warren Buffett.