MBIA Inc. Monday night announced that John A. Rolls has resigned from its board of directors, which he was elected to in 1995.
MBIA did not say why Rolls had resigned in its announcement. A spokesman for the firm said it would not comment beyond its press release.
Rolls served as chairman of the finance committee and was also on the audit committee and the compensation and organization committee.
Rolls retired as president and chief executive officer of Thermion Systems International in 2007. Previously, he was president and CEO of Deutsche Bank NA and executive vice president and chief financial officer of United Technologies from 1986 to 1992.
"John has been a valued member of MBIA's board for 14 years and provided important insight and perspective," chairman Dan Kearney said in a statement. "We thank him for his many contributions and wish him continued success in the future."