Transportation specialty insurer Baldwin& Lyons announced late last week that it has brought inoutside legal counsel for a comprehensive governance review afterthe sudden and simultaneous retirement of three seniorofficials.

Chief Executive Officer Joseph J. DeVito, Chief FinancialOfficer Gary W. Miller and Chief Operating Officer G. PatrickCorydon left the Carmel, Ind.-based company on Thursday, thecompany announced later that day.

No reason was given for the sudden retirements, though thecompany statement thanked them for “their many years ofservice.”

DeVito, the CEO, has been with Baldwin & Lyons for 31 years.Miller and Corydon were with the insurer for 51 years and 38 years,respectively, according to a news release from the company.

Board hires independent legal counsel

“The board has retained independent legal counsel to conduct acomprehensive governance review, including a review of certainmatters brought to the board’s attention in connection with theretirements of Messrs. DeVito, Miller and Corydon,” the companysaid in the news release.

Baldwin & Lyons also announced replacements for the threemen “effective immediately.”

W. Randall Birchfield, executive vice president, sales andunderwriting, was named chief executive officer and was elected tothe company’s board.

Douglas W. Collins, assistant vice president and director ofaccounting and finance, was named interim chief financialofficer.

Michael J. Case, senior vice president of claims and legal,general counsel and secretary was given the additional role ofchief operating officer.

The company also said that it would file a Form 8-K with theSecurities and Exchange Commission as a result of the massretirement. The 8-K form is used to officially notify investors ofevents that might affect shareholders.