internal
Heather Lavallee
President and Chief Executive Officer
Executive
3 yr
4 reports
Leadership change Jay Kaduson became CEO, Workplace Solutions · DEF 14A 2026-04-10
Voya Financial, Inc. ·VOYA
Three operating-business CEOs report directly to the group CEO
Financials · Fortune #469 · Holding structure · 10K employees · New York, New York
View as of:
4
CEO span
↓ tighter than peers (avg 10)
4
Avg span
moderate
2
Max depth
2 levels
1.8 yr
Avg tenure
stable vs FY2024
75%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$2.3B
Operating income
$1.0B
Net income
$654M
Total assets
$178.9B
Shares out
93M
Sourced from Voya Financial, Inc. DEF 14A · filed 2026-04-10 ↗ View on SEC
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Voya Financial, Inc. organizational chart
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Three operating-business CEOs report directly to Voya’s group CEO. This page maps Voya Financial’s enterprise leadership structure, executive team roles, recent leadership changes, and peer comparisons, highlighting its unusually flat, CEO-centric design.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Jay Kaduson joined as CEO, Workplace Solutions
Hired effective January 16, 2025.
Source · See change logScenario views in the chart
- Add Chief AI Officer Create a dedicated Chief AI Officer role to centralize AI strategy across investment, retirement, and benefits platforms.
- Insert Group COO Layer Add a Group COO to reduce CEO span and consolidate oversight of Workplace Solutions and Investment Management.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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- Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.
The people
Who's running this
5 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
Michael Katz
Executive Vice President, Chief Financial Officer
Finance
1 yr
0 reports
Jay Kaduson
Chief Executive Officer, Workplace Solutions
Workplace Solutions
1 yr
0 reports
internal
Matthew Toms
Chief Executive Officer, Investment Management
Investment Management
2 yr
0 reports
internal
Santhosh Keshavan
Executive Vice President, Chief Technology and Operations Officer
Technology & Operations
1 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 5 named executive officers disclosed. Bar length scales with total compensation.
Heather Lavallee $12.6M
- Base salary
- $992K
- Stock awards
- $6.94M
- Non-equity incentive
- $4.46M
- Pension change
- $132K
- Other
- $71K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Michael Katz $6.4M
- Base salary
- $650K
- Stock awards
- $2.22M
- Non-equity incentive
- $3.40M
- Pension change
- $98K
- Other
- $64K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Jay Kaduson $11.1M
- Base salary
- $599K
- Stock awards
- $7.09M
- Non-equity incentive
- $3.34M
- Pension change
- $19K
- Other
- $36K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Matthew Toms $7.1M
- Base salary
- $646K
- Stock awards
- $2.51M
- Non-equity incentive
- $3.77M
- Pension change
- $101K
- Other
- $63K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Santhosh Keshavan $4.6M
- Base salary
- $600K
- Stock awards
- $1.46M
- Non-equity incentive
- $2.41M
- Pension change
- $69K
- Other
- $59K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
Stock ownership requirements
Proxy discloses stock ownership requirements but does not specify salary multiples.
| Holder | Shares | % of class |
|---|---|---|
| Heather Lavallee | 473K | <1% |
| Michael R. Katz | 182K | <1% |
| Jay Kaduson | 135K | <1% |
| Matthew Toms | 114K | <1% |
| Santhosh Keshavan | 159K | <1% |
The businesses
How Voya Financial, Inc. divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Enterprise
10K employees
President & CEO (Heather Lavallee)
Corporate center overseeing strategy, capital allocation, and enterprise governance.
Workplace Solutions
4K employees
CEO, Workplace Solutions (Jay Kaduson)
Retirement and employee benefits solutions for employers.
Investment Management
800 employees
CEO, Investment Management (Matthew Toms)
Global asset management platform serving institutional and intermediary clients.
Technology & Operations
2K employees
EVP, CTO & COO (Santhosh Keshavan)
Enterprise technology, operations, cybersecurity, and platform modernization.
The thesis
Why this org is unusual
Three operating-business CEOs—Workplace Solutions, Investment Management, and the enterprise technology/operations leader—report directly to Heather Lavallee, creating a CEO-heavy span of control.
This structure emphasizes business accountability at the top, with each major platform led by a P&L-style CEO rather than layered presidents.
The absence of an intermediate group COO layer for the operating businesses keeps the organization relatively flat at the top, while central functions like finance and technology remain enterprise-led. This design reflects Voya’s post-transition focus on capital discipline and platform execution following its 2023–2024 leadership changeover.
- Direct-report CEOs for major businesses
- No standalone COO for business units
The comparison
How Voya Financial, Inc. stacks up
Compared with peers such as Prudential and MetLife, Voya runs a smaller, flatter C-suite with fewer enterprise presidents and no separate insurance or annuities CEO. Peers typically interpose group executives between the CEO and business heads, whereas Voya concentrates accountability directly under the CEO. This …
C-suite size
Reporting depth
Voya Financial, Inc.
2 levels
4 levels
5 levels
Principal Financial
4 levels
Lincoln Financial
4 levels
Avg C-suite tenure
Voya Financial, Inc.
2 yr
5 yr
Principal Financial
6 yr
Lincoln Financial
4 yr
Has COO / Has CAIO
Voya Financial, Inc. — no COO — no CAIO
Principal Financial ✓ COO — no CAIO
Lincoln Financial ✓ COO — no CAIO
Current signals
What changed recently
The most consequential change was the hiring of Jay Kaduson as CEO of Workplace Solutions in January 2025.
- new
- promoted
- departed
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-04-10
- CEO
- Heather Lavallee
- CEO span
- 4
- C-suite
- 5
- Avg tenure
- 1.8 yr
Post-transition team with newly appointed CFO and Workplace Solutions CEO.
Named executive officers (5)
- Heather Lavallee - President & CEO since 2023
- Michael Katz - EVP, CFO since 2025
- Jay Kaduson - CEO, Workplace Solutions since 2025
- Matthew Toms - CEO, Investment Management since 2024
- Santhosh Keshavan - EVP, CTO & COO since 2025
FY2024
DEF 14A filed 2025-04-10
- CEO
- Heather Lavallee
- CEO span
- 5
- C-suite
- 6
- Avg tenure
- 2.5 yr
Final year including Executive Chairman and legacy Workplace Solutions leadership.
Named executive officers (6)
- Heather Lavallee - President & CEO since 2023
- Donald Templin - EVP, CFO since 2022
- Robert Grubka - CEO, Workplace Solutions
- Matthew Toms - CEO, Investment Management since 2024
- Santhosh Keshavan - EVP, CIO
- Rodney O. Martin, Jr. - Executive Chairman
FY2023
DEF 14A filed 2024-04-11
- CEO
- Heather Lavallee
- CEO span
- 5
- C-suite
- 6
- Avg tenure
- 3.2 yr
First full year of Lavallee as CEO with transitional governance structure.
Named executive officers (6)
- Heather Lavallee - President & CEO since 2023
- Donald Templin - EVP, CFO since 2022
- Robert Grubka - CEO, Workplace Solutions
- Christine Hurtsellers - EVP
- Kevin Silva - EVP
- Rodney O. Martin, Jr. - Executive Chairman
Year-over-year changes
Voya simplified its top team by removing the Executive Chairman role and adding a new Workplace Solutions CEO.
- CEO span: 5 → 4
- C-suite size: 6 → 5
- Avg tenure: 2.5 → 1.8 yr
- new Jay Kaduson - CEO, Workplace Solutions (DEF 14A 2026-04-10)
- promoted Michael Katz - EVP, CFO (was EVP, Finance) (DEF 14A 2026-04-10)
- departed Rodney O. Martin, Jr. - Executive Chairman (was Executive Chairman) (DEF 14A 2025-04-10)
The board
Board of directors
12 directors. 11 of 12 independent (92%). Source: most recent DEF 14A.
Heather Lavallee
Inside
President & CEO, Voya Financial
Lynne Biggar
Independent
Senior Advisor, Boston Consulting Group
S. Biff Bowman
Independent
Yvette S. Butler
Independent
Jane P. Chwick
Independent
Kathleen DeRose
Independent
Hikmet Ersek
Independent
Ruth Ann M. Gillis
Chair Lead Indep. Independent
Robert G. Leary
Independent
Former CEO, Nuveen
Also on: Citizens Financial Group
Aylwin B. Lewis
Independent
Former CEO, Potbelly
Also on: Marriott International
William J. Mullaney
Independent
Former President, MetLife U.S.
Also on: FINEOS
Joseph V. Tripodi
Independent
Former CMO, Subway
Frequently Asked Questions
Who is the CEO of Voya Financial?
Heather Lavallee has served as President and Chief Executive Officer since January 2023.
What type of organizational structure does Voya Financial use?
Voya uses a holding-company structure with major operating businesses led by CEOs reporting directly to the group CEO.
How many direct reports does Voya Financial's CEO have?
Heather Lavallee has four direct reports at the C-suite and business-CEO level.
How has Voya Financial's leadership changed recently?
Key changes include the promotion of Michael Katz to CFO in January 2025 and the hiring of Jay Kaduson as CEO of Workplace Solutions in January 2025.
Who reports directly to Voya Financial's CEO?
The CFO, the CEOs of Workplace Solutions and Investment Management, and the Chief Technology and Operations Officer report directly to the CEO.
Sources
- DEF 14A filed Apr 10, 2026
- DEF 14A filed Apr 10, 2025
- SEC EDGAR: Voya Financial, Inc. DEF 14A Proxy Statement
- SEC EDGAR: Voya Financial, Inc. 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). Voya Financial, Inc. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/voya-financial/MLA 9th
"Voya Financial, Inc. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/voya-financial/. Accessed .Chicago 17
Creately. "Voya Financial, Inc. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/voya-financial/.Original SEC source View on SEC ↗
Voya Financial, Inc.. DEF 14A. Filed 2026-04-10. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1535929/000153592926000061/voya-20260410.htmPermanent URL: https://creately.com/org-chart/fortune-500/voya-financial/ · last updated 2026-04-01