First American Financial Corporation is switching CFOs.
On Thursday, the title insurer announced that current Executive Vice President and Chief Financial Officer Max O. Valdes is retiring sometime in the next year. He's leaving on a high note, too, with FAF's share price having risen 54% over the past year. It also outperformed the S&P 500 by a factor of nearly five.
Valdes will be replaced by newly promoted Senior Vice President of Finance Mark E. Seaton, a seven-year veteran of the company, who takes over the CFO's chair. Details on Seaton's compensation have not yet been filed with the SEC.
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