NI Holdings, Inc. Announces Leadership Change
NI Holdings, Inc. (NASDAQ: NODK) announced a significant leadership change on August 15, 2024. Michael J. Alexander has stepped down from his roles as President, CEO, and board member, effective August 13, 2024. The Board has appointed Cindy L. Launer as Interim CEO to ensure a smooth transition.
Launer, an independent non-executive director since November 2019, brings 18 years of insurance industry experience. She previously served as COO of AIG's Commercial Insurance Business before retiring in 2018. The Board has initiated the process of finding a permanent CEO, with no definitive timeline set.
Eric K. Aasmundstad, Chairman of the Board, expressed gratitude for Alexander's 19 years of service and confidence in Launer's ability to lead the company through this transition. Launer committed to ensuring a seamless transition for all stakeholders and continuing to achieve business priorities.
NI Holdings, Inc. (NASDAQ: NODK) ha annunciato un importante cambiamento nel vertice aziendale il 15 agosto 2024. Michael J. Alexander si è dimesso dalle sue cariche di Presidente, CEO e membro del consiglio, con effetto dal 13 agosto 2024. Il Consiglio ha nominato Cindy L. Launer come CEO ad interim per garantire una transizione fluida.
Launer, direttrice non esecutiva indipendente dal novembre 2019, vanta 18 anni di esperienza nel settore assicurativo. In precedenza ha ricoperto il ruolo di COO della Divisione Assicurativa Commerciale di AIG prima di andare in pensione nel 2018. Il Consiglio ha avviato il processo per trovare un CEO permanente, senza una tempistica definitiva fissata.
Eric K. Aasmundstad, Presidente del Consiglio, ha espresso gratitudine per i 19 anni di servizio di Alexander e fiducia nelle capacità di Launer di guidare l'azienda durante questa transizione. Launer si è impegnata a garantire una transizione senza intoppi per tutti gli stakeholder e a continuare a raggiungere le priorità aziendali.
NI Holdings, Inc. (NASDAQ: NODK) anunció un cambio de liderazgo significativo el 15 de agosto de 2024. Michael J. Alexander renunció a sus funciones como Presidente, CEO y miembro de la junta, con efecto a partir del 13 de agosto de 2024. La Junta ha nombrado a Cindy L. Launer como CEO interina para asegurar una transición fluida.
Launer, directora no ejecutiva independiente desde noviembre de 2019, cuenta con 18 años de experiencia en la industria de seguros. Anteriormente se desempeñó como COO del Negocio de Seguros Comerciales de AIG antes de jubilarse en 2018. La Junta ha iniciado el proceso de búsqueda de un CEO permanente, sin un plazo definitivo establecido.
Eric K. Aasmundstad, Presidente de la Junta, expresó su agradecimiento por los 19 años de servicio de Alexander y confianza en la capacidad de Launer para guiar a la empresa durante esta transición. Launer se comprometió a asegurar una transición sin inconvenientes para todos los interesados y a continuar alcanzando las prioridades empresariales.
NI Holdings, Inc. (NASDAQ: NODK)는 2024년 8월 15일에 중대한 경영진 변화를 발표했습니다. 마이클 J. 알렉산더는 2024년 8월 13일부로 사장, CEO 및 이사직에서 물러났습니다. 이사회는 원활한 전환을 위해 신디 L. 로너를 임시 CEO로 임명했습니다.
로너는 2019년 11월부터 독립 비임원 이사로 재직해 왔으며, 보험 업계에서 18년의 경험을 쌓았습니다. 그녀는 2018년에 은퇴하기 전 AIG의 상업 보험 사업 부문 COO로 근무한 경력이 있습니다. 이사회는 정식 CEO를 찾는 절차를 시작했으며, 구체적인 일정은 정해지지 않았습니다.
이사회의 의장인 에릭 K. 아스문드스타드는 알렉산더의 19년 봉사에 감사의 뜻을 전하며 로너가 이 전환 과정을 성공적으로 이끌 수 있을 것이라고 확신했습니다. 로너는 모든 이해관계자를 위한 원활한 전환을 보장하고 비즈니스 우선 사항을 계속해서 달성하겠다고 약속했습니다.
NI Holdings, Inc. (NASDAQ: NODK) a annoncé un changement de leadership majeur le 15 août 2024. Michael J. Alexander a démissionné de ses fonctions de Président, PDG et membre du conseil d'administration, avec effet au 13 août 2024. Le Conseil a nommé Cindy L. Launer en tant que PDG par intérim pour assurer une transition en douceur.
Launer, administratrice indépendante non exécutive depuis novembre 2019, possède 18 ans d'expérience dans l'industrie de l'assurance. Elle a précédemment occupé le poste de COO de la branche des assurances commerciales d'AIG avant de prendre sa retraite en 2018. Le Conseil a engagé le processus de recherche d'un PDG permanent, sans échéance définie.
Eric K. Aasmundstad, Président du Conseil, a exprimé sa gratitude pour les 19 ans de service d'Alexander et sa confiance en Launer pour diriger l'entreprise durant cette transition. Launer s'est engagée à garantir une transition sans heurts pour toutes les parties prenantes et à continuer d'atteindre les priorités commerciales.
NI Holdings, Inc. (NASDAQ: NODK) gab am 15. August 2024 eine bedeutende Veränderung in der Unternehmensführung bekannt. Michael J. Alexander ist mit Wirkung zum 13. August 2024 von seinen Positionen als Präsident, CEO und Vorstandsmitglied zurückgetreten. Der Vorstand hat Cindy L. Launer zur Interims-CEO ernannt, um einen reibungslosen Übergang zu gewährleisten.
Launer, seit November 2019 unabhängige Nicht-Executive-Direktorin, bringt 18 Jahre Erfahrung in der Versicherungsbranche mit. Zuvor war sie COO des Commercial Insurance Business von AIG, bevor sie 2018 in den Ruhestand ging. Der Vorstand hat den Prozess zur Suche nach einem dauerhaften CEO eingeleitet, ohne einen definitiven Zeitrahmen festzulegen.
Eric K. Aasmundstad, Vorsitzender des Vorstands, drückte seine Dankbarkeit für Alexanders 19 Jahre Dienst aus und äußerte sein Vertrauen in Launers Fähigkeit, das Unternehmen durch diesen Übergang zu führen. Launer verpflichtete sich, einen nahtlosen Übergang für alle Stakeholder sicherzustellen und die geschäftlichen Prioritäten weiterhin zu erreichen.
- Appointment of experienced interim CEO with 18 years in the insurance industry
- Smooth leadership transition plan in place
- Board's commitment to finding the right long-term successor
- Unexpected departure of long-serving CEO
- Potential uncertainty during transition period
- No definitive timeline for permanent CEO appointment
FARGO, N.D., Aug. 15, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today announced that Michael J. Alexander has stepped down from his role as President and Chief Executive Officer of NI Holdings, along with his role as a board member of the company, effective August 13, 2024. To ensure seamless stewardship of the company until a permanent successor is named, the Board has appointed Cindy L. Launer as Interim Chief Executive Officer, effective August 13, 2024.
Ms. Launer has served as an independent non-executive director on NI Holdings’ board since November 2019 and brings 18 years of experience in the insurance industry with a proven track record of success as a global finance and operations executive. Most recently, Ms. Launer served as Chief Operating Officer of AIG’s Commercial Insurance Business, before retiring in 2018. She will remain on the Board of Directors while serving as the Interim Chief Executive Officer.
"We are grateful for Jim’s many contributions to NI Holdings over his 19 years as CEO and wish him continued success in his future endeavors. We are very fortunate to have a Director who is able to step in, on an interim basis, giving the Board time to explore potential candidates and make the right long-term succession decision for the company,” said Eric K. Aasmundstad, Chairman of the Board. "We are confident that Cindy has the expertise to lead the company through this transition into its next phase of success."
Ms. Launer added, “I am honored to take on the role of Interim CEO and am committed to ensuring this will be a seamless transition for all NI Holdings’ stakeholders. I look forward to working closely with our talented employees to continue to achieve our business priorities.”
The Board of Directors is immediately starting the process of finding the next CEO and has no definitive timeline for that search at this moment.
About the Company
NI Holdings, Inc. is an insurance holding company. The company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for
Safe Harbor Statement
Some of the statements included in this news release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include risks we describe in the periodic reports we file with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.
Investor Relations Contact:
Seth Daggett
Executive Vice President, Treasurer and Chief Financial Officer
701-298-4348
IR@nodakins.com
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