Property and casualty insurance holding company, Cincinnati Financial Corporation, announced at its recent shareholders’ meeting that shareholders approved a proposed stock option plan, turned down a shareholder proposal on the makeup of the company’s board of directors, and re-elected five directors to the board.
Re-elected for three-year terms on the board of directors were W. Rodney McMullen, executive vice president of The Kroger Co.; James G. Miller, senior vice president and chief investment officer of Cincinnati Financial Corporation; Thomas R. Schiff, chairman and chief executive officer of John J. & Thomas R. Schiff & Co., Inc.; Frank J. Schultheis, president of Schultheis Insurance Agency; and Larry R. Webb, president of Webb Insurance Agency Inc.
Chairman and CEO John J. Schiff, Jr., thanked shareholders for accepting the “board’s recommendation against a shareholder proposal with stringent definitions and requirements for the makeup of the board.”
At the regular meeting of the board of directors, also held on April 6, Director William F. Bahl, president of Bahl & Gaynor Inc., was appointed to replace John J. Schiff, Jr., on the nominating committee and to chair the compensation committee. Director Michael Brown, president and general manager of the Cincinnati Bengals Inc., was appointed to chair the nominating committee and continues to serve on the compensation committee, which he formerly chaired.
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