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Everest Re chief to retire - successor named
July 30, 2010
Everest Re Group Ltd. Chairman and Chief Executive Officer Joseph V. Taranto said he is planning to retire in October. President and Chief Operating Officer Ralph Jones will become the new CEO on Jan. 1, 2011.
Taranto made the announcement as the company posted a drop in second-quarter net income, to $156.7 million from $272.6 million. In addition, Mark Herman, president of Everest Specialty Underwriters LLC, was named CEO of Everest Re subsidiary Everest National Insurance Co.
Taranto, who's been with the company for 16 years and will remain as chairman of the board, praised his successor. "The past two years I've worked with Ralph, I've been impressed with his leadership," he said at a conference call. "I'm confident he'll continue to grow the company."
Original Posting At: InsuranceNewsNet
Taranto made the announcement as the company posted a drop in second-quarter net income, to $156.7 million from $272.6 million. In addition, Mark Herman, president of Everest Specialty Underwriters LLC, was named CEO of Everest Re subsidiary Everest National Insurance Co.
Taranto, who's been with the company for 16 years and will remain as chairman of the board, praised his successor. "The past two years I've worked with Ralph, I've been impressed with his leadership," he said at a conference call. "I'm confident he'll continue to grow the company."
Original Posting At: InsuranceNewsNet
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