Florida Chief Financial Officer Alex Sink announced today that James R. Malone has been appointed board chairman for Citizens Property Insurance Corporation, the state's home insurer of last resort.

Ms. Sink said Mr. Malone's position at the largest property insurer in Florida is effective Aug 1.

The announcement of the appointment said Mr. Malone, 65, from Naples, Fla., has more than forty years of experience as an entrepreneur, manager and chief executive for several Fortune 500 companies.

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