Van Gilder Insurance Corporation, a privately held insurance brokerage firm that has served clients for over 100 years, has a new chief executive officer: Donald Woods, who joined the firm as president in August 2012. In its announcement, Van Gilder said that the former CEO, Michael Van Gilder, had stepped down as CEO “for personal reasons.”
The change in leadership follows the indictment of Michael Van Gilder by a federal grand jury in Denver on five counts of insider trading – and his being charged by the Securities and Exchange Commission with civil insider trading violations. Mr. Van Gilder allegedly traded based on inside information regarding a Denver oil and natural gas company called Delta Petroleum Corp. If convicted on all counts, Mr. Van Gilder faces up to 100 years in federal prison, and up to $25 million in fines.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].