NU Online News Service, July 29, 4:11 p.m.EDT

The New Mexico Public Regulation Commission (NMPRC) hasappointed John G. Franchini as Superintendent of Insurance, thecommission announced.

He will be replacing Morris J. "Mo" Chavez, who resigned inearly May after serving as superintendent since 2006.

According to a statement by the commission, Mr. Chavez reachedhis decision after deliberating with his family, citing personalreasons for his departure.

He was replaced temporarily by chief deputy superintendentThomas Rushton who resigned shortly thereafter, said Gerald GarnerJr., public information officer at NMPRC.

Since then, Craig Dunbar and Johnny L. Montoya have served assuperintendent on an interim basis, according to Mr. Garner.

Mr. Franchini, a New Mexico native, has had nearly four decadesof insurance industry-related experience.

He previously served as vice president of government andindustry affairs for the New Mexico Mutual Group from 2004-2010,and prior to that he served as vice president of Brown & Brownof New Mexico, Inc. from 1998-2002.

Mr. Franchini was one of five finalists selected by a 15-membersearch committee.