Baldwin & Lyons Announces Resignation of Mr. Steven Shapiro, Executive Chairman and Board of Directors Member
11 June 2018 - 10:50PM
Baldwin & Lyons, Inc. (NASDAQ:BWINA) (NASDAQ:BWINB), a
specialty property-casualty holding company in the transportation
and workers’ compensation insurance industries, announced today
that Mr. Steven Shapiro has resigned his position as Executive
Chairman and as a member of the Board of Directors, effective June
5, 2018. “The role of Executive Chairman was established in late
2015 during a period of management transition to help develop a
long term strategic plan for the Company,” said Randy Birchfield,
Chief Executive Officer of Baldwin & Lyons, Inc. He
went on to say, “Over the last two years, the management team has
successfully created and is executing a plan to grow the business
and increase shareholder value. Consequently, the Board has
decided to retire the Executive Chairman position and establish a
more traditional corporate governance structure. The Board
and I wish to thank Steve for providing his time, effort and
guidance to the Company during this transition. We wish him
the best as he resumes pursuit of his other interests and are
pleased that he remains an interested shareholder and is invested
in the Company’s success.”
In addition to the above, Stuart Bilton, a member of the Board
since 1987, will assume the responsibilities of Lead Independent
Director to act as a liaison between management and the Board and
to assist in facilitating the activities of the Board.
About Baldwin & Lyons, Inc.
Founded in 1930, Baldwin & Lyons, Inc. is a holding company
for specialty property-casualty insurance subsidiaries. Through its
subsidiaries, the company provides liability and workers
compensation coverage for trucking and public transportation
fleets, as well as coverage for trucking industry independent
contractors. In addition, the company offers workers’
compensation coverage for a variety of operations outside
the transportation industry. Baldwin & Lyons is headquartered
in Carmel, Indiana.
Investor Contact
William Vens investors@baldwinandlyons.com (317) 429-2554
Media Contact
Jim Shertzer (317) 806-1900, ext. 4742
jshertzer@protectiveinsurance.com
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