Atlanta-based international claims management firm Crawford & Co. has named Harsha V. Agadi president and CEO. He has served as interim president and CEO since August 2015.
Agadi was named interim CEO last August when Jeffrey Bowman agreed to step down from the position after nearly eight years as president and CEO and 24 years of service with the company.
“During Harsha’s interim leadership period, he made some tough but necessary changes that helped move Crawford toward profitable growth,” said Charles H. Ogburn, Crawford’s non-executive chairman of the board.
Agadi is chairman of GHS Holdings LLC, a family office, and has nearly 30 years’ experience in various executive management positions for several food service, franchise and Fortune 500 companies. This is the fifth time he has held the title of CEO. He has been a member of the Crawford board of directors since 2010 and will continue to serve on Crawford’s board. He additionally serves on the boards of Belmond Ltd. and Diversified Foodservice Supply Inc.
Last August’s announcement that Bowman was exiting did not give reasons for Bowman’s resignation. The firm had a disappointing first half of that year, in part because a lack of severe weather contributed to a decrease in the insurance claims business. The company has become more dependent on lower margin, high volume claims. It has also been dealing with costs associated with its integration of the GAB Robins acquisition, a new servicing center in the Philippines, and several large legal settlements. Bowman had initiated cost reduction steps that he said were starting to improve margins.
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