SAFECO Names McGavick CEO; Dickey Resigns

January 30, 2001

SAFECO Corp. has named Mike McGavick as chief executive, ending a four-month search for a new leader. Former CEO Roger Eigsti resigned at the end of last year.

In related news, Boh Dickey, SAFECO president, chief operating officer and member of the board of directors, has resigned effective immediately. Dickey, 56, who held a number of executive positions at the company since joining in 1982, was a candidate for the CEO position.The company offered no explanation for his departure.

McGavick, 42, previously headed CNA Financial Corp.’s commercial insurance unit with $3.5 billion in annual revenues.

In addition, William G. “Gary” Reed Jr. has been elected chairman of its board of directors. Reed, 61, was named lead director in May 2000. A SAFECO director since 1974, Reed has been serving as acting chairman and acting CEO since the first of the year.

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