8-KLeadership ChangesExhibits & Filings

ALLSTATE CORP 8-K Report, Executive Changes (Feb 20, 2013)

Filed February 20, 2013For Securities:ALLALL-PJALL-PBALL-PHALL-PI

Summary

The Allstate Corporation (ALL) filed an 8-K on February 20, 2013, reporting changes in its Board of Directors. Two long-serving directors, Joshua I. Smith and W. James Farrell, will not seek re-election and are set to retire at the upcoming annual stockholders meeting on May 21, 2013. This transition will result in 12 director nominees standing for election at the meeting. This filing primarily serves as an announcement of these director retirements, indicating a planned refresh of the board's composition. Investors may view this as a normal corporate governance event, potentially signaling an evolution in strategic direction or a commitment to bringing in new perspectives. The press release detailing these changes is attached as an exhibit.

Key Highlights

  • 1Joshua I. Smith and W. James Farrell are retiring from the Board of Directors.
  • 2The directors will not stand for re-election at the upcoming annual stockholders meeting.
  • 3The annual stockholders meeting is scheduled for May 21, 2013.
  • 4Following these retirements, 12 director nominees will be presented for election.
  • 5The filing includes a press release dated February 20, 2013, as an exhibit, detailing the director changes.

Frequently Asked Questions

The 8-K filing states that Joshua I. Smith and W. James Farrell will not stand for re-election and will be retiring from the Registrant’s Board of Directors. While the specific reasons for their retirement are not detailed in this filing, it is a common occurrence for directors to retire upon completion of their terms or for other board-related reasons.

The retirement of directors is a routine aspect of corporate governance. For investors, it may signal a planned refreshment of the board, potentially leading to new perspectives or a shift in strategic focus over time. The filing itself is an announcement of this governance change rather than a reflection of immediate financial performance.

The 12 director nominees, which will include the replacements for the retiring directors, will stand for election at Allstate's annual stockholders meeting, which is scheduled to take place on May 21, 2013.