Chubb Announces Succession
NU Online News Service, Nov. 4, 12:38 p.m. EST?Chubb Corp., the Warren,. N.J.-based insurer, said it has selected a General Motors executive to succeed Dean R. O'Hare as chief executive officer.
Picked as Chubb's new CEO is John D. Finnegan, executive vice president of the General Motors Corp. and chairman and president of General Motors Acceptance Corporation. He will hold the title of president, chief executive officer and director.
Mr. O'Hare retires as chairman and CEO on Nov. 30 after 39 years with Chubb, including 14 years as CEO.
Mr. Finnegan will assume his duties effective Dec. 1.
The company also announced that Joel J. Cohen, Chubb's lead director, has been elected non-executive chairman of the board.
John Degnan, president, and Michael O'Reilly, executive vice president, were promoted to vice chairmen and will retain their current duties. Thomas F. Motamed, executive vice president and chief operations officer was promoted to vice chairman and COO. All three vice chairmen will report to Mr. Finnegan.
Chubb said all of these changes become effective Dec. 1.
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