The Hanover elects Egan to chair its board of directors

The Hanover Insurance Group has accelerated its leadership transition plan by electing Cynthia Egan as new chair, effective December 1.

Egan, currently board vice chair, will succeed P. Kevin Condron who is set to retire in 2021.

Prior to Hanover, Egan was president of retirement plan services for T. Rowe Price Group, a global investment management organisation, from 2007 until her retirement in 2012. Before joining T. Rowe Price, she held senior positions with Fidelity Investments, a multinational financial services corporation, from 1989 to 2007, including executive vice president, head of Fidelity's Institutional Services Company, president of the Fidelity Charitable Gift Fund, and executive vice president of Fidelity Management Research Co.

John Roche, The Hanover president and CEO, thanked Condron for his board service over the past 13 years.

"For more than a decade, Kevin has brought tremendous leadership and counsel, unparalleled wisdom and keen business judgment to The Hanover board, as well as to the business community as a whole," said Roche. "We look forward to his continued board involvement and perspective as past chair as we advance our mission and deliver on our promises to our shareholders and other stakeholders."

Roche added: "As we approach year end and the company begins to implement its plans for 2021 and beyond, we have every confidence that Cynthia will bring the same energy and leadership, as well as her broad public company experience, to the role of chair as she demonstrated as vice chair."