Minneapolis, Minn.-based workers’ compensation program manager RTW Inc. announced that its board of directors has elected Jeffrey B. Murphy, the company’s current chief financial officer to the position of president and CEO of RTW effective immediately.
Murphy succeeds J. Alexander Fjelstad, the CEO since December 2001, who notified RTW that he would not renew his employment contract. Fjelstad also resigned as a director of the company effective immediately.
Fjelstad said he returned to the company after retirement to help guide it back to profitability and now felt comfortable retiring after achieving the objective.
Murphy has served as CFO of the company since 2000 and has been with RTW since 1994. Murphy named Alfred L. LaTendresse to take his position.
The board also elected John O. Goodwyne as chairman of the board.
RTW’s services are available to employers in Minnesota, Wisconsin, South Dakota, Colorado, Michigan and Indiana. Clients span many industries, including manufacturing, health care, hospitality and wholesale/retail.
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