MBIA, a provider of insurance and other forms of credit protection, has announced that Debra Perry has resigned from the company's board of directors.

In conjunction with its five-year transformation plant, the company has asked Ms Perry to consult on a project to assist the credit risk committee of the board of directors and its CEO Jay Brown to refine and implement MBIA’s risk strategy for the global credit markets going forward.

Ms Perry is currently a member of the board of directors of Conseco and Korn/ Ferry International. Prior to joining the board of MBIA, she worked at Moody’s.

Mr Brown, said: Debra has made enormous contributions to our board. She has served on the audit, credit risk and finance committees of the board since joining us in 2004.