Lindner Sons Now Co-CEOs At American Financial

NU Online News Service, Jan.18, 2:24 p.m.EST?American Financial Group Inc. in Cincinnati announcedtoday that Carl H. Lindner, 85, is stepping down as chief executiveand the duties of his post will now be shared by his sons Carl H.Lindner III and S. Craig Lindner.[@@]

The elder Lindner will continue to serve American Financial aschairman. American Financial said the move implements the company'sexecutive succession plan announced in August 2004 to make the sonsco-executive officers.

The company also named Keith A. Jensen as chief financialofficer, succeeding senior vice president and treasurer Fred J.Runk, who previously announced his plans to retire in March.

S. Craig Lindner, 49, has served as co-president of AFG since1996 and is also president and a director of Great AmericanFinancial Resources Inc., an 82 percent-owned subsidiary, andAmerican Money Management Corporation, a subsidiary that providesinvestment services to AFG and its affiliates.

Carl H. Lindner III, 51, has served as co-president of AFG since1996 and is also president of Great American Insurance Company. Hehas been primarily responsible for AFG's property and casualtyinsurance operations for over fifteen years.

Keith A. Jensen, an AFG senior vice president, also serves asexecutive vice president and chief financial officer of GreatAmerican Insurance Company. Mr. Jensen, 53, has been with AFG andits subsidiaries since 1997 in various executive capacities. He wasa partner with Deloitte & Touche LLP for over eleven yearsprior to joining AFG.

Through the operations of the Great American Insurance Group,AFG is engaged primarily in property and casualty insurance,focusing on specialized commercial products for businesses, and inthe sale of retirement annuities, supplemental insurance and lifeproducts.