The Travelers Companies’ CEO Alan Schnitzer has added the title of “chairman” to his nameplate, ending a management structure put in place after the company’s former leader, Jay Fishman, died of Lou Gherig’s disease in August 2016.
Travelers said its board of directors unanimously elected Schnitzer to become its next chairman. John Dasburg, the previous chairman, will now resume his previous role of independent lead director, a position he held before Fishman died.
Fishman was executive chairman at Travelers at the time of his death. Because of his illness, Fishman stepped down from his role as CEO in late 2015, after which Schnitzer became CEO.
Dasburg said the Travelers board of directors believes combining the roles of chairman and CEO for one executive serves the company and its shareholders best in the face of “unprecedented change for the insurance industry.”
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