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Primerica Board of Directors Elects Dropbox’s Amber Cottle as Newest Board Member
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
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Tags
management
Rhea-AI Summary
Primerica, Inc. (NYSE:PRI) has elected Amber Cottle to its Board of Directors, enhancing female representation to 36%. She replaces former Senator Saxby Chambliss, who served for five years. Cottle brings over 25 years of experience in government affairs, having held significant roles at Dropbox and Apple. This move reflects Primerica's commitment to diversity and aims to strengthen governance through her extensive background in public policy and corporate governance.
Positive
36% representation of women on the Board, above U.S. corporate average of 27%.
Amber Cottle brings extensive experience in government and regulatory affairs.
Negative
Potential continuity concerns following the departure of Senator Chambliss.
Experience gaps in the Board due to recent changes.
Marks Milestone in Company’s History with 36% of Board Now Comprised of Women
DULUTH, Ga.--(BUSINESS WIRE)--
Primerica, Inc. (NYSE:PRI) today announced the election of Amber Cottle to the Company’s Board of Directors effective immediately. Ms. Cottle replaces former Senator Saxby Chambliss following his 5 years of service on the Board.
Ms. Cottle has been the Vice President of Global Public Policy, Government Affairs & Social Impact at Dropbox, Inc since August 2016. In this role, she oversees Dropbox’s Global Public Policy and Government Affairs teams, serving as lead strategist for all of Dropbox’s public policy and government affairs issues globally including privacy. She also oversees Dropbox’s Social Impact team, which handles the company’s philanthropic and environmental sustainability initiatives, and serves as the Vice President of the Dropbox Foundation. Prior to joining Dropbox, she served as Vice President of Government Affairs and Public Policy for the Americas at Apple Inc. She has over 25 years of government affairs experience, including serving as the Staff Director of the U.S. Senate Finance Committee, where she was the chief strategist for all policy areas under its jurisdiction. She also worked at the Office of the U.S. Trade Representative, where she served as the chief negotiator of the investment provisions of multiple U.S. free trade agreements and bilateral investment treaties. Earlier in her career, Ms. Cottle practiced international law and clerked on the U.S. Court of Appeals for the Fourth Circuit. Ms. Cottle holds a B.A. degree from Saint Louis University and a J.D. degree from the University of Chicago Law School.
“We are grateful to Senator Chambliss for his contributions to Primerica during the five years he served,” said D. Richard Williams, Primerica’s Chairman. “In filling the vacated seat, we sought out an individual with deep knowledge of government and regulatory affairs and Amber’s over 25 years’ experience working in corporate, law and government will perfectly complement the skills of our Board.”
The addition of Ms. Cottle means that 36% of the Primerica Board is now made up of women, well above that of other U.S.-based public companies. A 2022 survey, conducted by Moody’s Investor Services of companies it rates, found that only 27% of seats on corporate boards in the U.S. are held by women.
“Joining the Primerica board represents so much more to me than just becoming a part of another corporate board, given the company’s mission to help families become more financially secure,” said Amber Cottle, Vice President of Global Public Policy, Government Affairs & Social Impact for Dropbox. “I look forward to sharing my skills and experience with the company.”
About Primerica, Inc.
Primerica is a leading provider of financial services to middle-income households in the United States and Canada. Licensed financial representatives educate Primerica clients about how to prepare for a more secure financial future by assessing their needs and providing appropriate products like term life insurance, mutual funds, annuities, and other financial products. Primerica insured over 5.7 million lives and had over 2.7 million client investment accounts as of December 31, 2021. Primerica was the #2 issuer of Term Life insurance coverage in the United States and Canada in 2021 through its insurance company subsidiaries. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.
What is the significance of Amber Cottle's election to the Board of Primerica?
Amber Cottle's election increases female representation on the Board to 36%, enhancing diversity and bringing her 25 years of government affairs experience.
Who did Amber Cottle replace on Primerica's Board?
Amber Cottle replaces former Senator Saxby Chambliss, who served on the Board for five years.
How does Primerica's Board composition compare to other U.S. companies?
With 36% women on its Board, Primerica exceeds the U.S. corporate average of 27% female representation, according to a 2022 Moody's survey.
What experience does Amber Cottle bring to Primerica?
Amber Cottle has over 25 years of experience in government affairs, having worked at Dropbox and Apple in significant policy roles.
