NU Online News Service, Aug. 1, 3:01 p.m.EDT
|The abrupt departure of Joseph P. Lacher as president of AllstateProtection may have been due to comments he made about Allstate’schief executive, according to the Wall Street Journal.
|The WSJ, citing “two people familiar with the matter,”reports that Chairman, President and Chief Executive Officer ThomasJ. Wilson “had been growing disenchanted” with Lacher’sperformance.
|But the story says the final straw occurred at a Ritz-Carltonhotel bar in Orlando, Fla. in May, when Lacher reportedly madedisparaging remarks about Wilson over drinks with some of thecompany’s top insurance agents. The WSJ says “severalpeople familiar with the situation” indicate that expletives wereused at the bar after a meeting earlier in the day when Lacher andWilson discussed a plan to reduce the company’s sales force and changethe way commissions are calculated.
|For more information, see the WSJ story, “LooseLips Trip Up a Good Hands Executive.”
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