Chubb Says CEO John Finnegan Will Remain In Current Roles Until 2016-end

(RTTNews) - The Chubb Corp. (CB) Board announced that John Finnegan, the company's Chairman, President and CEO, will remain in his current roles until the end of 2016.

"The Board's decision was based on its high level of satisfaction with Chubb's overall performance since John Finnegan became CEO in December 2002," said James Zimmerman, Chubb's Lead Director.

The company said, over the next three years that Finnegan will remain as CEO, its Board will continue review of CEO succession planning as part of its established succession management procedures. In connection with this review, Chubb announced a realignment of responsibilities among the top members of Chubb's strong management team. The realignment is designed to broaden the experience of those executives and to further enhance their ability to contribute to the leadership in the future, the company said.

Richard Spiro will remain Chief Financial Officer, and will assume responsibility for Corporate Development. Dino Robusto, currently President of Personal Lines and Claims, will become President of Commercial and Specialty Lines and will retain responsibility for Information Technology. Paul Krump, currently President of Commercial and Specialty Lines, will become President of Personal Lines and Claims and will retain responsibility for the Accident & Health business.