State Auto Financial Corporation Announces Leadership Changes at Annual Meeting
May 18 2006 - 10:00AM
Business Wire
At State Auto Financial Corporation's (NASDAQ:STFC) annual meeting
today, Chairman, CEO and President Bob Restrepo announced the
election of new officers for STFC, State Auto Property &
Casualty (State Auto P&C) and State Automobile Mutual (State
Auto Mutual) reflecting new assignments for the Companies'
leadership team. "I'm pleased to announce these new assignments
that both position us for greater success and offer our talented
and deep leadership team new opportunities to grow, develop and
contribute," Restrepo said. "These changes will also introduce
fresh perspectives and stimulate teamwork, collaboration and
innovation." Joel E. Brown and Paul E. Nordman were elected Vice
Presidents of Personal Lines and Commercial Lines respectively, and
each will have operating accountability for the pricing, production
and profit of the lines of business noted. Brown was formerly
Resident Vice President of the Companies' Indianapolis Regional
Office, while Nordman was previously Vice President of
Underwriting. Jean Reynolds was elected Vice President of
Marketing, where she will lead a new department charged with
responsibility for the development and implementation of all
strategic projects requiring integrated solutions. Reynolds was
formerly Resident Vice President of the Companies' Central Regional
Office (CRO) in Columbus. Also named to the Marketing team were
Benjamin M. Blackmon, John P. Heffernan and Timothy G. Reik.
Blackmon and Heffernan were named Assistant Vice Presidents for
Commercial Lines Marketing and Marketing Services, respectively.
Blackmon was previously Assistant Vice President of Commercial
Lines. Formerly a Territory Manager in CRO, Reik was elected
Assistant Vice President - Personal Lines Marketing for State Auto
P&C and State Auto Mutual. Brent K. Mackey was elected
Assistant Secretary, Manager of Claims Contact Center, the position
previously held by Heffernan. Noreen Johnson was elected Vice
President, Director of Administration, and will act as Mr.
Restrepo's Chief of Staff. Her responsibilities will broaden to
include leading State Auto's efforts to increase visibility in the
industry and community. William D. Hansen was named Vice President,
Risk Management. While he retains his responsibilities over
Actuarial Services, this new title reflects an expansion of his
duties to also encompass risk management. Steven E. English was
elected Vice President of Corporate Development and Planning for
STFC, State Auto P&C, and State Auto Mutual. English was
formerly Assistant Vice President, Director of Financial Planning.
A number of major leadership changes were also announced to
appointed positions in the Companies' Regional Offices. Gary T.
Johnson was named Regional Vice President of CRO, moving from a
similar position with the companies' Eastern Regional Office (ERO).
Nelson McCants, formerly Assistant Vice President of the Companies'
Special Risks Division, was named Regional Vice President of ERO.
Rick L. Holbein was named Regional Vice President of the Southern
Regional Office. His prior position was Assistant Vice President of
Personal Lines. "These changes will also enable better alignment
and accountability for what's critical to our strategic and
operational success, Restrepo noted. "We have a terrific leadership
team here at State Auto. Together we share excitement and
enthusiasm for our people and our great prospects." State Auto
Financial Corporation, headquartered in Columbus, Ohio, is a
property and casualty insurance holding company. The company
markets its personal and commercial insurance products through more
than 22,300 independent insurance agents associated with
approximately 3,000 agencies in 27 states. The company has been
named Forbes Magazine's "Best Managed Insurance Company in America"
for 2006 and is in a select group, making up just 3% of publicly
traded companies, earning the Mergent Dividend Achiever Award for
having increased its dividends for ten or more years in succession.
The State Auto Insurance Companies are rated A+ (Superior) by the
A.M. Best Company. Additional information on the company can be
found on its web page at www.STFC.com. Except for historical
information, all other information in this news release consists of
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected,
anticipated or implied. The most significant of these uncertainties
are described in State Auto Financial's Form 10-K and Form 10-Q
reports and exhibits to those reports, and include (but are not
limited to) legislative changes at both the state and federal
level, state and federal regulatory rule making promulgations and
adjudications, class action litigation involving the insurance
industry and judicial decisions affecting claims, policy coverages
and the general costs of doing business, the impact of competition
on products and pricing, inflation in the costs of the products and
services insurance pays for, product development, geographic spread
of risk, weather-related events, and other types of catastrophic
events. State Auto Financial undertakes no obligation to update or
revise any forward-looking statements.
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