8-KExhibits & Filings

CINCINNATI FINANCIAL CORP 8-K Report, Exhibit Filing (Jul 3, 2008)

Filed July 3, 2008For Securities:CINF

Summary

Cincinnati Financial Corporation (CINF) filed an 8-K on July 3, 2008, to report the departure of a director, Dirk J. Debbink, who resigned from the board effective June 30, 2008. Mr. Debbink's resignation was necessitated by his recall to active military duty and his promotion to Vice Admiral and Chief of Navy Reserve for the United States Navy, a position confirmed by the U.S. Senate. The company's press release, incorporated into the filing, highlights that with Mr. Debbink's departure and the recent addition of Kenneth W. Stecher to the board, the board will return to its intended size of 13 members at its next meeting. Mr. Stecher, who became president and CEO and joined the board on July 1, 2008, commented on the depth of talent on the board and expressed appreciation for Mr. Debbink's service, acknowledging the challenges facing the company, insurance industry, and financial sector at the time.

Key Highlights

  • 1Dirk J. Debbink, a director since 2004, resigned from the Cincinnati Financial Corporation board, effective June 30, 2008.
  • 2Mr. Debbink's resignation is due to his recall to active military duty and appointment as Chief of Navy Reserve, U.S. Navy.
  • 3The board size will be adjusted to 13 members at the next board meeting.
  • 4Kenneth W. Stecher, recently appointed president and CEO, also joined the board effective July 1, 2008.
  • 5The company's press release indicates confidence in the board's expertise to navigate challenging market conditions.
  • 6The filing was made under Item 5.02(b) (Departure of Directors or Certain Officers) and Item 7.01 (Regulation FD Disclosure).

Frequently Asked Questions

Dirk Debbink resigned from the board of directors because he was recalled to active military duty and appointed as Vice Admiral and Chief of Navy Reserve for the U.S. Navy. His resignation was effective June 30, 2008.

With Mr. Debbink's departure, the board of directors plans to return to its intended size of 13 members at its next meeting. This follows the recent addition of Kenneth W. Stecher to the board.

The filing and accompanying press release indicate that the resignation is due to Mr. Debbink's military service and is not a reflection of concerns about the company's performance. The company emphasized the depth of talent on its board and confidence in its directors to manage the business, even amidst challenging market conditions for the financial sector and insurance industry.

The inclusion of Regulation FD Disclosure (Item 7.01) means the information provided in this part of the filing, specifically the news release, is intended to ensure broad public dissemination of material information. However, it also notes that this information is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it generally won't be the basis for liability under that specific section.