Christopher Swift is now chairman of The Hartford Financial Services Group as well as its CEO.
Swift became CEO in July and replaced Liam McGee, who stepped down from his position so he could focus on recovery following a medical procedure. He remained as executive chairman until Jan. 5, when the board of directors elected Swift to fill that slot, too.
Back in January 2013, McGee revealed he was having chemotherapy after getting a brain tumor removed.
The Hartford’s independent presiding director Thomas Renyi said in prepared remarks that Swift’s nomination to both leadership positions creates “the optimal governance structure for the organization to continue to deliver against its business strategy and create value for shareholders.”
Renyi also thanked McGee “for his leadership and turnaround of this iconic insurer.
McGee, a former Bank of America Corp. executive, took over the insurer in 2009 and is credited with restoring it to financial health. He repaid a $3.4 billion government bailout a year after becoming CEO.
Source: The Hartford