Penn National Insurance Makes Management Moves

April 13, 2010

Penn National Insurance announced a number of executive moves, including the retirement of CEO Dennis C. Rowe.

Rowe will retire October 1, but retain his position as chairman of the board. He began his career with Penn National Insurance in 1967 as a management trainee. He subsequently served in a variety of management positions in underwriting and marketing. He was named vice president of the Personal Lines Division in 1984, vice president of the Commercial Lines Division in 1988, and senior vice president of underwriting operations in 1997. He was elected president and CEO in 1998, and chairman and CEO in 2007.

Kenneth R. Shutts is now serving as president and CEO. He had been serving as president and COO. He joined the company in 1980 as associate counsel, was elected to the board of directors in 1987, was elected senior vice president, secretary, and general counsel in 1995, executive vice president, secretary, and general counsel in 1998, and president and COO in 2007.

Christine Sears is now serving as executive vice president and COO. She had been serving as executive vice president and CFO. She joined the company in 1980 as a financial analyst. She held various positions of increasing leadership in our company, and was elected to boards of directors of the affiliated companies during the 1990s and to its mutual company’s board in 2002. She is responsible for underwriting, claims, and the company’s third-party claims administration subsidiary, Inservco Insurance Services, Inc.

Gregory R. Stine is now senior vice president, treasurer and CFO. He had been serving as vice president and controller. He joined the company in 1993 as manager–Cash Operations and has held various management positions within the company’s financial division. He was named vice president and controller in 2003. He is responsible for the financial areas of the company, including investments, and the Actuarial and Controller departments.

Karen C. Yarrish is now senior vice president, secretary and general counsel. She had been serving as vice president, secretary and general counsel. She joined the company in 1990 as a legal intern, later became associate counsel, and in 1998 was appointed to the position of vice president–Legal, and assistant secretary. In addition to the legal department, she is responsible for the Administrative Services and Human Resources departments.

Robert A. Brandon leads the company’s underwriting operations as senior vice president of that division. He had been serving as vice president of underwriting operations. He joined the company in 1995, held a variety of line and staff commercial underwriting management positions, and was appointed vice president–Underwriting Operations in 2005.

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