The St. Paul Travelers Companies board has voted to add the title of chairman to Jay S. Fishman, the firm's president and chief executive officer.
Mr. Fishman will replace prior chairman Robert I. Lipp, who had held that position since the merger of The St. Paul Companies, Inc. and Travelers Property Casualty Corp. in April 2004.
Mr. Lipp will remain with the company as a member of the board of directors.
Mr. Fishman said that Mr. Lipp "has been a tremendous partner, and I am pleased that we will enjoy the benefit of his wise counsel in the future through his continued service on our Board.
"Together with the people of St. Paul Travelers, we have accomplished a great deal since the merger that formed our company."
Mr. Lipp said the integration of the two companies is moving ahead of schedule, adding that it was "appropriate" that Mr. Fishman be named chairman at this time.
"The strategies established under Jay's leadership are increasing our financial and operational momentum, and positioning the company for future success," he said. "I look forward to continuing to serve St. Paul Travelers as a director."
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