Summary
The Hartford Financial Services Group, Inc. (HIG) filed an 8-K report on January 7, 2010, detailing a significant leadership change. Effective December 17, 2009, Liam E. McGee was appointed President of the Company. This appointment follows his prior designation as Chairman of the Board and CEO on September 23, 2009, indicating a consolidation of top leadership roles under Mr. McGee's direction. Mr. McGee brings extensive experience from his tenure at Bank of America Corporation, where he held prominent leadership positions, including President of Bank of America Consumer and Small Business Bank. His background in managing large-scale consumer banking operations is expected to be instrumental as he assumes his new responsibilities at The Hartford. This move suggests a strategic effort by the board to leverage his expertise during a potentially challenging economic period.
Key Highlights
- 1Liam E. McGee appointed as President of The Hartford, effective December 17, 2009.
- 2Mr. McGee previously appointed Chairman and CEO on September 23, 2009.
- 3The appointment signifies a consolidation of top executive leadership under one individual.
- 4Mr. McGee has extensive experience from Bank of America, including leading its Consumer and Small Business Bank.
- 5His background includes managing operations serving over 50 million consumer households and small businesses.
- 6Mr. McGee also serves on the Company's Executive Committee and Finance, Investment and Risk Management Committee.