State Auto Extends Contract of President and CEO Mike LaRocco
29 November 2017 - 12:00AM
Business Wire
The boards of directors of State Auto Financial Corporation
(NASDAQ:STFC) and State Automobile Mutual Insurance Company (State
Auto Mutual) today announced the extension of President and CEO
Mike LaRocco’s employment agreement through Dec. 31, 2021.
LaRocco’s previous agreement was set to expire on Dec. 31,
2018.
“As a result of Mike’s leadership, State Auto is now poised to
truly compete and win,” said State Auto Mutual Chairman Jim Kunk.
“We’re pleased that Mike has agreed to continue to lead the
transformation of the company.”
STFC Lead Director David Meuse added, “Mike and his leadership
team have made remarkable progress in State Auto’s turnaround over
the past two years. We look forward to seeing that turnaround
completed and State Auto returned to profitable growth.”
LaRocco joined State Auto in 2015 after leading large national
insurance carriers and forming a technology startup. Since 2015,
LaRocco has led the transformation of State Auto’s culture, the
development of a new strategy, and the rollout of a new technology
platform that has delivered a significant increase in new
business.
“I’m grateful for the boards’ confidence in our strategy and in
the progress we’ve made to date,” said LaRocco. “I’m incredibly
proud of the passion and drive demonstrated by the State Auto team,
which is more focused than ever on successfully completing our
turnaround and returning this great company to profitable
growth.”
About State Auto Financial Corporation
State Auto Financial Corporation, headquartered in Columbus,
Ohio, is a super regional property and casualty insurance holding
company and is proud to be a Trusted Choice® company partner. STFC
stock is traded on the NASDAQ Global Select Market, which
represents the top fourth of all NASDAQ listed companies.
The insurance subsidiaries of State Auto Financial Corporation
are part of the State Auto Group. The State Auto Group markets its
insurance products throughout the United States, through
independent insurance agencies, which include retail agencies and
wholesale brokers. The State Auto Group is rated A- (Excellent) by
the A.M. Best Company and includes State Automobile Mutual, State
Auto Property & Casualty, State Auto Ohio, State Auto
Wisconsin, Milbank, Meridian Security, Patrons Mutual, Rockhill
Insurance, Plaza Insurance, American Compensation and Bloomington
Compensation. Additional information on State Auto Financial
Corporation and the State Auto Insurance Companies can be found
online at http://www.StateAuto.com/STFC.
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version on businesswire.com: http://www.businesswire.com/news/home/20171128005430/en/
State Auto Financial CorporationInvestors:Tara Shull,
614-917-4478Tara.Shull@StateAuto.comorMedia:Kyle Anderson,
614-917-5497Kyle.Anderson@StateAuto.com
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