Hallmark Financial president and CEO resigns

Property and casualty insurer  Hallmark Financial Services' president and chief executive officer (CEO) Naveen Anand has resigned from the position, citing family and personal reasons.

The company's board of directors has appointed the current executive chairman Mark Schwarz to the additional positions of president and CEO, effective February 27.

Hallmark said that Schwarz has no written employment agreement with the company and is an at-will employee. He will maintain his current salary of $195,000 per year.

Schwarz was elected executive chairman of Hallmark in August 2006. He previously served as CEO of the company from January 2003 until August 2006, and as president from November 2003 through March 2006.

He currently also serves as a director of various privately held companies.