The Cincinnati Financial Corp. announced that at its regular meeting on Nov. 12, 2004, the board of directors received and accepted the request of Robert C. Schiff to retire, effective immediately, from boards of the parent company and its four insurance subsidiaries.
Additionally, the board accepted Frank J. Schultheis’s request not to stand for re-election to boards of the parent company and two insurance subsidiaries. He will complete his regular term, which runs until the April 2005 annual meeting of shareholders.
Schiff was a founding agent and director of the Cincinnati Insurance Co. in 1950 and a director of Cincinnati Financial since it was incorporated in 1968. He retired earlier this year from Schiff, Kreidler-Shell Inc., a large Cincinnati-area insurance agency where he had served as chairman since 1991 and president from 1984 to 1991. He formed the agency in 1984 after leaving his position as senior vice president of CIC to expand his agency business, previously named Schiff Insurance Inc. Schiff is the uncle of Chairman and CEO John J. Schiff Jr.
Frank Schultheis joined the Cincinnati Financial board in 1995 and was appointed in 1996 to the boards of CIC and the Cincinnati Indemnity Co. He served on executive committees of the parent company and property casualty insurance subsidiaries. He is the retiring president of Schultheis Insurance Agency Inc., an Evansville, Ind.-based independent agency that has represented the Cincinnati Insurance Cos. since 1970.
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