Late yesterday, Seattle-based Safeco announced that Chief Executive Office Mike McGavick will leave his post, effective Aug. 31, to turn to a life of public service.
Although neither Mr. McGavick nor Safeco specifically addressed the rumor that Mr. McGavick will make a run for the U.S. Senate in official announcements or during an earnings conference call, the Seattle Times reported yesterday–and earlier this year==that the CEO is the top Republican contender in the state.
Recalling different types of rumors–rumors "about whether or not Safeco was going to survive," which had swirled around the company four-and-a-half years ago when he took the helm, Mr. McGavick said the decision to step down was difficult one after having been part of the management team credited with turning the company around.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
