Los Angeles-based Farmers Group, Inc. announced that Chief Executive Officer Paul Hopkins has been promoted to post of chairman and Bob Woudstra, currently president and chief operating officer will become CEO.
The firm, a subsidiary of Zurich Financial Services Group, announced Mr. Hopkins will also assume responsibilities overseeing Zurich's Latin America operations.
Mr. Hopkins joined Farmers in 1978 as a Farmers agent and subsequently became a Farmers employee where he held positions of increasing responsibility in sales and marketing areas.
"Farmers' success has been a true team effort and I would like to thank members of our leadership team; our entire employee and agency force; and the men and women who have served on our Boards for their passion, enthusiasm and support," Mr. Hopkins said.
He called Mr. Woudstra "an experienced and talented leader with 35 years of service to Farmers and to Foremost Insurance Co., making him uniquely qualified to take charge of this great organization."
He added that Mr. Woudstra had made "crucial and substantial contributions to Farmers' strong performance. I am confident this is the beginning of even greater things for Farmers."
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