The board of directors of California’s State Compensation Insurance Fund today announced that it has appointed Doug Stewart, Chief Risk Officer, as president and CEO on an interim basis, replacing outgoing CEO Janet D. Frank.
“The board is very confident that Doug Stewart will provide solid leadership and a steady hand during this transition period,” said Jeanne Cain, the chair of the board of directors. “As chief risk officer for the past two years, Doug has played a significant role in State Fund’s transformation and well understands our commitment to ensuring that State Fund remains a stable provider of workers’ compensation insurance and a vital asset to the state’s economy.
“Despite the significant economic challenges facing California, State Fund remains financially strong and poised to continue providing a guaranteed workers’ compensation market to California’s businesses. Doug Stewart is ideally suited to ensure we remain on course. “
Doug Stewart joined State Fund in a consulting capacity in November 2007 and was named chief risk officer following passage of SB 1145. He brings more than 35 years experience in the insurance industry in the areas of claims, underwriting, marketing, sales, USL&H and risk management.
The Board will begin a national search for a permanent president and CEO immediately.