InGroup's Frank J Codina steps down as Co-CEO for personal reasons

InGroup International LLC, based in Guaynabo, Puerto Rico, has announced the decision of Frank J Codina to step down from his role as Co-Chief Executive Officer effective December 31, 2024. The announcement was made on December 2, 2024, highlighting that Codina is departing for personal and family reasons after a significant nine-year tenure at the company. During his time, he played a crucial role in developing the company's technology, finance, and operations, helping shape its vision towards product development and success. Codina’s leadership was instrumental in positioning InGroup for growth, and his departure marks a significant transition for the company. In the years leading to this announcement, Codina has collaborated closely with the executive team to ensure a smooth transition of responsibilities. Anthony Varvaro, the Chief Operating and Financial Officer, along with other key leaders, are now prepared to take over Codina's daily responsibilities and guide the company forward. The executive team, described as experienced and strong, remains committed to maintaining the company’s strategy and delivering results despite this change in leadership. Importantly, Codina’s departure does not affect his ownership stake in InGroup, nor does it diminish his influence in corporate governance. As stated by Codina, it has been an honor to lead the company alongside a talented team, and he expressed a strong confidence in the company’s future. Despite Frank's departure, InGroup continues to emphasize its commitment to delivering value to stakeholders, including customers and employees. Since its inception in 2016, InGroup has expanded significantly, boasting more than one million members and partners across 200 countries. They have also recently enhanced their offerings with the introduction of inStays, which provides more than 200,000 hotel, cruise, and resort options to members. Furthermore, the company has committed to positive corporate citizenship by supporting various humanitarian efforts. Thus, while there is a shift at the leadership level with Codina stepping down, the company is well-positioned for its ongoing journey with a dedicated executive team at the helm. Future updates regarding Codina’s transition will be forthcoming as necessary, ensuring transparency and continued communication with stakeholders.