Charles P. Nelson is joining Voya Financial Inc. as chief executive officer of retirement on May 1, Voya announced Monday.

Nelson will oversee tax-exempt and corporate markets and retail wealth management, which includes the company's workplace and individual retirement businesses, including 401(k), 403(b) and 457 plans, and IRAs. In 2014, Voya's retirement segment accounted for approximately 40 percent of the company's operating earnings.

Nelson most recently led the legacy retirement business of Great-West in Empower Retirement, a business unit of Great-West Life & Annuity Insurance Company.