Summary
This Form 8-K filing from The Hartford Financial Services Group, Inc. (HIG) reports a significant executive appointment and related compensation details. Effective March 1, 2010, Christopher J. Swift has been appointed Executive Vice President and Chief Financial Officer (CFO). He joins HIG from American International Group (AIG), bringing substantial experience from various financial and operational roles within AIG's life insurance and retirement services divisions. The appointment of Mr. Swift and the transition of the current CFO, Lizabeth Zlatkus, to Chief Risk Officer (CRO) signals a strategic shift in leadership for the company's financial and risk management functions. The filing also details Mr. Swift's compensation package, which includes a base salary, deferred stock units, and a long-term incentive award. Importantly, all compensation is subject to restrictions imposed by U.S. Treasury regulations related to The Hartford's participation in the Troubled Asset Relief Program (TARP).
Key Highlights
- 1Christopher J. Swift appointed Executive Vice President and Chief Financial Officer (CFO), effective March 1, 2010.
- 2Lizabeth Zlatkus, current CFO, will transition to the role of Chief Risk Officer (CRO).
- 3Mr. Swift joins from American International Group (AIG), where he held senior financial and executive positions.
- 4Mr. Swift's compensation package includes a base salary of $975,000, deferred stock units valued at $1,525,000 annually, and a 2010 long-term incentive award of $1,041,250.
- 5All compensation for Mr. Swift is contingent upon and restricted by U.S. Treasury regulations governing TARP recipients.
- 6The filing includes Mr. Swift's employment agreement as an exhibit.