The Chubb Corp. reports that Thomas F. Motamed, vice chairman and chief operating officer, will retire from Chubb effective on June 6, 2008. Motamed has accepted the position of chairman and chief executive officer of CNA Financial Corp. and will assume that position as of June 8, 2009 in compliance with his compensation agreements with Chubb.
Motamed has served Chubb for 31 years, beginning in 1977 as a claims trainee, and has held increasingly responsible positions in the field and the home office. He was elected to his present position in December 2002.
“I am grateful for 31 very satisfying years at Chubb,” said Motamed, “but the opportunity to become CEO of a publicly traded, well known and respected insurer like CNA is one I did not want to pass up.”
Source: Chubb Group
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