John H. Forsgren Elected Phoenix Chairman; Thomas S. Johnson Retires
HARTFORD, Conn. -- July 12, 2013
The Phoenix Companies, Inc. (NYSE:PNX) today announced the election of John H.
Forsgren, 66, as chairman of its Board of Directors. Mr. Forsgren brings
significant financial expertise to this leadership role, previously serving as
chief financial officer of a public company and in financial functions for an
array of businesses. He succeeds Thomas S. Johnson, 72, who retired as
chairman and director in keeping with the Board’s retirement guidelines.
“As a director, John has been a tremendous asset to the company,” said James
D. Wehr, president and chief executive officer. “We welcome his expanded
leadership role as we continue to focus on profitable growth and building
Mr. Wehr added, "In 2009, Tom was chosen by his peers to serve as the Board's
first-ever non-executive chairman. He led the Board through a series of
important events and gave the company the benefit of his wisdom and integrity.
We are grateful for his leadership during a particularly challenging time.”
Mr. Forsgren joined the Phoenix Board of Directors in 2005. Most recently he
chaired the Finance Committee and was a member of the Executive and Audit
Committees. He was formerly vice chairman, executive vice president and chief
financial officer of Northeast Utilities and previously held senior financial
positions at The Walt Disney Company. He is a director of Trident Resources
Corp., Port Townsend Paper Co., and Duke Energy Corporation.
Mr. Johnson joined the Board in 2000, was elected chairman in 2009 and
previously was chairman of the Compensation Committee. He is the retired
chairman and chief executive officer of GreenPoint Financial Corporation and
was previously president and director of Manufacturers Hanover Trust Company
and Manufacturers Hanover Corp. He is a director of R.R. Donnelley & Sons
Company, Inc. and Alleghany Corporation.
Headquartered in Hartford, Connecticut, The Phoenix Companies, Inc. (NYSE:PNX)
is a boutique life insurance and annuity company serving customers’ retirement
and protection needs through select independent distributors. For more
information, visit www.phoenixwm.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The foregoing contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. We intend these
forward-looking statements to be covered by the safe harbor provisions of the
federal securities laws relating to forward-looking statements. These
forward-looking statements include statements relating to, or representing
management’s beliefs about, our future transactions, strategies, operations
and financial results, including, without limitation, our expectation to
provide information within anticipated timeframes. Such forward-looking
statements often contain words such as “will,” “anticipate,” “believe,”
“plan,” “estimate,” “expect,” “intend,” “is targeting,” “may,” “should” and
other similar words or expressions. Forward-looking statements are made based
upon management’s current expectations and beliefs and are not guarantees of
future performance. Our ability to provide updated information about the
restatement in the anticipated timeframe, complete the restatement and resume
a timely filing schedule with respect to our SEC filings reflecting the
restatement is subject to a number of contingencies, including but not limited
to, whether we continue to identify errors in our consolidated financial
statements, whether existing systems and processes can be timely updated,
supplemented or replaced, and the number and complexity of, and periods
covered by, the periodic reports that we will have to file with the SEC to
reflect the restatement. Our actual business, financial condition or results
of operations may differ materially from those suggested by forward-looking
statements as a result of risks and uncertainties which include, among others,
those risks and uncertainties described in any of our other filings with the
SEC. Certain other factors which may impact our business, financial condition
or results of operations or which may cause actual results to differ from such
forward-looking statements are discussed or included in our reports filed with
the SEC and are available on our website at www.phoenixwm.com under “Investor
Relations”. You are urged to carefully consider all such factors. We do not
undertake or plan to update or revise forward-looking statements to reflect
actual results, changes in plans, assumptions, estimates or projections, or
other circumstances occurring after the date of this news release, even if
such results, changes or circumstances make it clear that any forward-looking
information will not be realized. If we make any future public statements or
disclosures which modify or impact any of the forward-looking statements
contained in or accompanying this news release, such statements or disclosures
will be deemed to modify or supersede such statements in this news release.
The Phoenix Companies, Inc.
Alice S. Ericson, 860-403-5946
Naomi Baline Kleinman, 860-403-7100
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