Progressive Corp. (PGR), the fourth-largest U.S. auto insurer, said Chief Executive Officer Glenn Renwick is taking the additional role of chairman, after the death ofPeter Lewis, who previously led the board.
Renwick, 58, will also retain the title of president, the Mayfield Village, Ohio-based insurer said today in a statement.
Lewis was CEO from 1965 to 2000 when he turned over the job to Renwick. The company’s largest shareholder, he remained non-executive chairman until his death on Nov. 23.
Progressive joins the two largest U.S. providers of car coverage in turning to a single person to handle the roles of chairman and CEO. Ed Rust leads State Farm Mutual Automobile Insurance Co., and Tom Wilson runs Allstate Corp.
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