Summary
This 8-K filing by The Travelers Companies, Inc. (TRV) announces a significant addition to its Board of Directors. On December 9, 2009, the Board elected Donald J. Shepard as a new director, who brings extensive experience as the former chairman and CEO of AEGON N.V. Mr. Shepard has also been appointed to serve on both the Compensation and Nominating and Governance Committees, indicating his immediate engagement in key oversight functions of the company.
Key Highlights
- 1Donald J. Shepard elected as a new director to the Board of Directors as of December 9, 2009.
- 2Mr. Shepard brings valuable experience, having previously served as chairman of the executive board and chief executive officer of AEGON N.V.
- 3Shepard has been appointed as a member of the Compensation Committee.
- 4Shepard has also been appointed as a member of the Nominating and Governance Committees.
- 5Compensation for Mr. Shepard's service as a non-employee director will follow the company's established Director Compensation Program, as previously detailed in their Form 10-K.
Frequently Asked Questions
Donald J. Shepard is the former chairman of the executive board and chief executive officer of AEGON N.V. His appointment as a director to The Travelers Companies, Inc. Board of Directors likely reflects the company's desire to leverage his significant leadership experience in the financial services and insurance industry.
Mr. Shepard has been appointed to two key committees: the Compensation Committee and the Nominating and Governance Committees.
Mr. Shepard's compensation for his service as a non-employee director will be in accordance with Travelers' Current Director Compensation Program, which was previously outlined in Exhibit 10.26 of the company's Form 10-K filed on February 19, 2009.