Acceptance Insurance announces the unexpected death of President and CEO Larry Willeford
Acceptance Insurance (OTCQX: FACO) announced the unexpected death of President and CEO Larry Willeford at the age of 65 on October 5, 2022. Willeford had been with the company since 2016, taking the role of CEO in November 2021. His leadership was marked by accolades for workplace culture, including recognition by Forbes in 2022 as one of America’s Best Midsize Employers. Following his passing, Ken Russell, former CEO, will serve as interim leader to maintain operational continuity.
- Accolades received in 2022: Named by Forbes as one of America's Best Midsize Employers, Best Employers for New Graduates, and Best Employers for Diversity.
- Leadership transitioned smoothly with Ken Russell stepping in as interim CEO.
- Sudden death of CEO Larry Willeford could create uncertainty in company direction.
- Potential impact on morale and company culture following the loss of a beloved leader.
NASHVILLE, Tenn., Oct. 5, 2022 /PRNewswire/ -- First Acceptance Corporation (DBA Acceptance Insurance) (OTCQX: FACO) today announced the sudden and unexpected death of President and CEO Larry Willeford. He was 65.
The company's board of directors issued the following statement: "Larry Willeford was a visionary leader who exemplified our service vision of taking care of each other. Larry always put people first, and he was dedicated to the success of everyone at Acceptance Insurance. As we mourn his passing, we will remember his legacy of boundless compassion and generosity—both as a leader and a friend."
A spokesman for the company added, "The Acceptance Insurance family is profoundly saddened by this untimely event and extends its heartfelt condolences to Larry's wife, his three sons, and his family."
Mr. Willeford was appointed President and CEO of Acceptance Insurance in November 2021 to succeed Ken Russell, who has remained closely involved in the company as a strategic advisor and board member. Mr. Russell will lead Acceptance in an interim capacity to ensure the continuity of its operations.
Larry Willeford attended Texas State University before beginning an insurance career spanning 42 years. He joined the team at Acceptance Insurance as its Chief Claims Officer in October 2016 before serving as President and Chief Operating Officer starting in 2019.
Under his leadership, Acceptance received national acclaim for its commitment to excellence in workplace culture. In 2022, the company was named to Forbes' annual list of America's Best Midsize Employers, Best Employers for New Graduates, and Best Employers for Diversity.
Acceptance Insurance (OTCQX: FACO) is both an omnichannel insurance agency and insurance carrier operating in 13 states across 338 retail locations. Their team of 1,300-plus focuses on developing long-term relationships with historically underserved customers and those who prefer more flexible payment schedules and greater risk tolerance. Local community engagement, supported by robust digital messaging on owned and earned platforms, gives each agency a local feel and the resources of an institutional carrier. Learn more online at acceptance.com.
Media Contact
Chris Song
615-202-0595
chris@greenapplestrategy.com
Investor Relations Contact
Mike Bodayle
615-844-2907
mbodayle@acceptance.com
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SOURCE Acceptance Insurance
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