MBIA Inc.'s board of directors appointed a number of executive officers to new positions earlier this week as it begins the transformation of its corporate structure that chief executive officer and chairman Jay Brown announced when he rejoined the company earlier this year, according to a filing with the Securities and Exchange Commission.

All the executive officers named already held top positions at the company and those the board did not reappoint will remain officers at bond insurer subsidiary MBIA Insurance Corp. The appointments could mark early steps in Brown's plan to create a more traditional holding company with various operating subsidiaries beneath it, including separate public finance and structured finance firms.

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