Leadership Transition at The Allstate Corporation

The Allstate Corporation, a leading property and casualty insurer, has undergone a leadership transition with Jerry D. Choate assuming the additional role of chairman of the board, replacing Wayne E. Hedien, who announced his retirement in August 1994. Choate continues as chief executive officer, while Edward M. Liddy, previously executive vice president and chief operating officer, was elected president and chief operating officer. Both appointments became effective January 1, 1995.

Key Takeaways:

Jerry D. Choate has been elected chairman of the board, in addition to his role as chief executive officer, effective January 1, 1995.
Edward M. Liddy has been elected president and chief operating officer, succeeding Choate, effective January 1, 1995.
Choate has served as president and chief executive officer since August 1994, after joining the company in 1962 and holding various responsibilities including operations, sales, marketing, and administration.
Liddy joined Allstate in August 1994 as executive vice president and chief operating officer, prior to which he was senior vice president and chief financial officer of Sears, Roebuck and Co.
The Allstate Corporation is the parent company of Allstate Insurance Company, the largest publicly held property and casualty insurer, with over 20 million customers and 14,700 full-time agents in the US and Canada.
Sears, Roebuck and Co. owns 80.1 percent of the company, which was established in 1931.

Statistics:

The Allstate Corporation has over 20 million customers.
The company has approximately 14,700 full-time agents in the US and Canada.
The Allstate Corporation is the largest publicly held property and casualty insurance company.
The company has been in operation since 1931, with Sears, Roebuck and Co. owning 80.1 percent of the shares.

Sources:

PRNewswire, "The Allstate Corporation Announces Leadership Transition" (January 3, 1995)
The Allstate Corporation, company information (exact date unknown)