CEA Chief Executive Announces Resignation

December 20, 2001

The Governing Board of the California Earthquake Authority has accepted the resignation of David Knowles, CEO.

Helping lead the CEA to a cash position of more than $1 billion amid rate decreases to policyholders, Knowles indicated it was time to try a new line of work.

The Governing Board has commenced an executive search process for a new CEO.

One move adopted by the Board at its Dec. 17 meeting was to take on a CEA Executive Officer Succession Plan, which will put in place a process to recruit and hire top executives for the Authority.

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