The Hartford reshuffles as CEO steps down
The Hartford has reshuffled a number of senior positions as current chairman, president and chief executive officer, Liam McGee, steps down and the company executes its succession plan.
Christopher Swift has been appointed chief executive officer and a member of the board of directors. He replaces McGee who will continue in his role as executive chairman of the board until the next annual shareholders’ meeting.
Swift joined The Hartford in March 2010 and is currently executive vice president and chief financial officer. Previously, he held various senior leadership and finance roles at American International Group (AIG).
Douglas Elliot has been named president. Elliot joined The Hartford in April 2011 as president of commercial markets. Before that he served as president of Hartford Steam Boiler, a subsidiary of Munich Re, and was a senior advisor with Aspen Insurance.
The company also appointed Beth Bombara to succeed Swift in the chief financial officer role. Bombara has been president of Talcott Resolution since July 2012 and prior to that served as senior vice president and controller for the company. She joined The Hartford in April 2004.
Thomas Renyi, presiding director of The Hartford, said: "For nearly five years, Liam has successfully led The Hartford through a financial turnaround and strategic transformation that have resulted in a strong, focused company with attractive growth prospects. We are very appreciative for all he has accomplished on behalf of the company, and look forward to continuing to benefit from his guidance and experience in his role as chairman."
McGee said: "I am proud of what our team has accomplished over the last five years, returning this iconic American company to a strong financial and competitive position and delivering value to shareholders. With our strategic transformation largely complete, it is the right time for the company and me personally to make this transition. I have great confidence in Chris, Doug and Beth to continue our progress. I look forward to continuing as chairman to ensure a smooth transition, while also devoting additional time to continued recovery from a recent procedure related to my previously disclosed health issue."
