(Bloomberg) — Jay Fishman, who engineered the merger between St. Paul Cos. and Travelers Property Casualty Corp. then steered the insurer through the financial crisis and into the Dow Jones Industrial Average, is stepping down as chief executive officer because of his health.
"It appears likely that I am dealing with a variant of Amyotrophic Lateral Sclerosis, or ALS," Fishman, 62, said in a letter to staff.
Alan Schnitzer, 49, who leads the unit selling business and international insurance, New York-based Travelers Cos.' largest segment, will become CEO Dec. 1, Travelers said Tuesday in a statement.
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