Travelers says CEO Jay Fishman to step down
Reprints
Travelers Cos. Inc. announced that Jay S. Fishman would step down as CEO of the insurer on Dec. 1 and would be replaced by Alan D. Schnitzer, who currently is CEO of Travelers' business and international insurance segment.
Mr. Fishman, who has been suffering from a neuromuscular condition, will become executive chairman of Travelers.
In a message to Travelers employees, Mr. Fishman said: “Given the progression of the symptoms … it appears likely that I am dealing with a variant of Amyotrophic Lateral Sclerosis, or ALS. While this is a progressive disease, anyone who has seen me can tell you that I am more than able to play an active role in Travelers' future.”
Mr. Fishman has been CEO of Travelers and its predecessor company since 1998.
Mr. Schnitzer joined Travelers in 2007. In addition to his current responsibilities, he oversees Travelers' field management, corporate communications and public policy departments.
Brian MacLean, who will remain president and chief operating officer of Travelers, will assume direct responsibility for the business and international insurance segment.
Read Next
-
Travelers sues P.F. Chang's to avoid paying breach costs
A Travelers Cos. unit has filed suit against restaurant chain P.F. Chang's China Bistro Inc. seeking a judicial declaration that it is not obligated under its commercial general liability policies to provide indemnity coverage or defense costs in connection with a data breach announced earlier this year.
