Penny Spence named Executive Vice President and Chief Financial Officer

March 30, 2021
Press Release

Kansas City, MO–The Stowers Institute for Medical Research is pleased to announce that Penny Spence has been named the new Executive Vice President and Chief Financial Officer for the Stowers Group of Companies, including not only the Institute, but also BioMed Valley Discoveries and Stowers Resource Management. 

Spence joined the Institute approximately two years ago as Vice President of Finance and Treasurer and worked closely with her predecessor, Rod Sturgeon, who recently announced his retirement effective in late April. In Spence’s new role, she will continue to build on the financial strength of the organization, drive innovation to support the scientific strategy, and help guide the mission of the Institute. 

“Penny is an active member of the senior leadership team and is critical to the success of the Stowers Institute,” said Richard W. Brown, Chair of the Board of Directors for the Institute, BioMed Valley Discoveries, and Stowers Resource Management. “Penny is a collaborative, strategic thought-leader. We look to her leadership as we set scientific, financial, and operational strategies as well as a long-term vision for the Institute.” 

Prior to joining the Institute, Spence spent her career in finance and treasury roles at large, privately held, multinational organizations, including fourteen years at Lockton Companies. Early in her career, she held finance roles at Hallmark Cards and Black & Veatch. Spence earned her Certified Treasury Professional designation in 2006. 

Spence received a bachelor of science in finance from Emporia State University and a master of business administration with a finance concentration from Avila University. 


About the Stowers Institute for Medical Research 

Founded in 1994 through the generosity of Jim Stowers, founder of American Century Investments, and his wife, Virginia, the Stowers Institute for Medical Research is a non-profit biomedical research organization with a focus on foundational research. Its mission is to expand our understanding of the secrets of life by improving life’s quality through innovative approaches to the causes, treatment and prevention of diseases. 

The Institute consists of twenty independent research programs. Of the approximately 500 members, over 370 are scientific staff that include principal investigators, technology center directors, postdoctoral scientists, graduate students and technical support staff. Learn more about the Institute at and about its graduate program at