THE ALLSTATE CORPORATION (NYSE:ALL-D) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January3, 2018, the Board of Directors of the Registrant elected Steven E. Shebik, current Executive Vice President and Chief Financial Officer of the Registrant and Allstate Insurance Company (“AIC”), as Vice Chairman of the Registrant and AIC. The Board also elected Mario Rizzo as Executive Vice President and Chief Financial Officer of the Registrant and AIC. Both elections are effective January3, 2018.
Effective January3, 2018, Mr.Shebik will receive an annual base salary of $850,000 in his position as Vice Chairman. His annual incentive target was increased to 200% of salary, and his target equity incentive opportunity was increased to 350% of salary.
Mr.Rizzo, age 51, has served as Senior Vice President and Chief Financial Officer, Allstate Personal Lines of AIC since June2014. Prior to this position, he served as Senior Vice President and Treasurer of the Registrant and AIC since 2010. Effective January3, 2018, Mr.Rizzo will receive an annual base salary of $700,000 in his position as Executive Vice President and Chief Financial Officer. In addition, Mr.Rizzo’s annual incentive target was increased to 125% of salary, and his target equity incentive opportunity was increased to 300% of salary.
On January4, 2018, the Registrant announced that Matthew E. Winter, President of the Registrant and AIC, will retire on February23, 2018. Effective upon Mr.Winter’s retirement, Thomas J. Wilson, age 60, Chairman of the Board and Chief Executive Officer of the Registrant and AIC, will also serve as President of the Registrant and AIC. Mr.Wilson has been Chief Executive Officer since January2007 and Chairman of the Board since May2008, and previously served as President from January2005 to January2015.
As part of these organizational changes, Don Civgin, current President, Emerging Businesses of AIC, was elected President, Service Businesses, effective January3, 2018. In addition, Glenn T. Shapiro, current Executive Vice President, Claims of AIC was elected President, Allstate Personal Lines, effective January3, 2018.
A copy of the press release announcing these changes is attached to this report as Exhibit99 and is incorporated herein by reference.
Section9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
