Bermuda-based RenaissanceRe Holdings Ltd. announced that W. James (“Jim”) MacGinnitie, 76, who has served as a member of the Board since 2000, will retire as a Director, and that William F. (“Bill”) Hagerty IV, 55, will join the Board, in conjunction with the Company’s Annual General Meeting of Shareholders in May 2015.
Hagerty’s election is subject to the approval of the Company’s shareholders at the Annual Meeting. The announcement noted that he “served as Tennessee’s Commissioner of Economic and Community Development and as a member of the Governor’s Cabinet until retiring from these positions in January 2015 to rejoin Hagerty, Peterson & Company, LLC, a private equity investment firm at which he had previously served as a Founder and Managing Director since 1996.”
RenRe’s CEO Kevin J. O’Donnell commented: “It is a fitting time in RenaissanceRe’s strategic evolution to celebrate Jim MacGinnitie’s invaluable service to our company. As past non-Executive Chair of our Board of Directors and throughout his tenure on our board, Jim has been a valued adviser on key industry and business issues.
“Jim has my thanks and appreciation and that of my entire management team. Bill brings to our Board extensive experience drawn from both a distinguished career in public service and as a successful financial and business executive. We look forward to drawing on his judgment and expertise as we continue to move our business forward.”
Ralph B. Levy, RenRe’s non-Executive Chairman, echoed O’Donnell’s praise for MacGinnitie; adding that he has played a major role “in RenaissanceRe’s development and success over more than half of our Company’s history, including during his critical service as our first non-Executive Chair. We are pleased to welcome Bill, whose knowledge of and success in both the public and private sector will bring fresh perspective to the Board’s oversight of this fine organization at a time of accelerating industry change.”
Source: RenaissanceRe Holdings Ltd.
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