Travelers Promotes Alan Schnitzer and Doreen Spadorcia; Announces Business Segment Changes
NEW YORK--(BUSINESS WIRE)-- The Travelers Companies, Inc. (NYSE: TRV) today announced that Alan Schnitzer has been promoted to Vice Chairman and Chief Executive Officer of Business and International Insurance, and Doreen Spadorcia has been promoted to Vice Chairman and Chief Executive Officer of Personal Insurance and Bond & Financial Products, effective July 1, 2014. In these roles, both executives will report to Brian MacLean, Travelers President and Chief Operating Officer.
In connection with these promotions, the company will report its results through the following three business segments: Business and International Insurance, Personal Insurance and Bond & Financial Products.
Schnitzer will maintain oversight of Field Management, Corporate Communications and Public Policy. Spadorcia will maintain oversight of Claim, Risk Control, Analytics, Marketing, Operations, eBusiness, Technology and Special Liability Group.
“We are very pleased to recognize Alan’s and Doreen’s leadership and effectiveness through these promotions,” said Travelers Chairman and Chief Executive Officer Jay Fishman. “They have both demonstrated exceptional management skills, judgment and dedication, and our company has benefitted tremendously from their efforts. Their expanded responsibilities will enable them to play even greater roles in the future success of our organization.”
MacLean added, “We believe these changes will enhance our organizational structure. I look forward to working closely with Alan and Doreen to move our business forward and build on our company’s leadership position.”
The company also announced that Bill Cunningham, who served as Executive Vice President, Business Insurance, has decided to leave the company to pursue other opportunities.
Fishman said, “Bill has been a great asset to the organization and a big reason why Business Insurance is a market leader in the United States today. We would like to thank him for his many significant contributions over his nearly three decades at Travelers and wish him well in his new endeavors.”
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $26 billion in 2013. For more information, visit www.travelers.com.
The Travelers Companies, Inc.
Patrick Linehan, 917-778-6267
Source: The Travelers Companies, Inc.