Safeco Names Reed Temporary CEO

December 22, 2000

Safeco Corp. has named William G. Reed Jr., a member of the insurance and investment company’s board of directors, as chairman and chief executive until a permanent replacement is found. Reed, 61, will take the job Jan. 1, replacing Roger Eigsti, 58, who said in August he would retire at the end of the year. While Reed serves as chairman and CEO, day-to-day activities of the company will be managed by Boh Dickey, president and chief operating officer.

Dickey also is considered a top candidate for the CEO position. Reed has been a member of Safeco’s board of directors since 1974. He also serves as a director of Microsoft Corp., Paccar Inc., The Seattle Times Co. and Washington Mutual Inc. Eigsti’s retirement announcement came after slumping profits led to dissatisfaction with the company’s executive team.

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