RLI Announces Appointment of New CEO and COO
RLI Corp. (NYSE: RLI) has appointed Craig W. Kliethermes as President and CEO, and Jennifer L. Klobnak as COO, effective January 1, 2022. This leadership change follows the retirement of Jonathan E. Michael, current Chairman & CEO. Kliethermes brings 36 years of insurance experience, while Klobnak has 21 years. Under Michael's 20-year leadership, RLI diversified its product portfolio, achieving 20 consecutive years of underwriting profit and significant returns for shareholders, outperforming S&P indexes.
- Craig Kliethermes and Jennifer Klobnak bring extensive leadership experience and familiarity with RLI.
- The transition shows strong internal leadership development, suggesting continuity in operations.
- Jonathan E. Michael's retirement may raise concerns about continuity in leadership vision.
Kliethermes has served as President and COO since 2016. Previously, he served as Senior Vice President, Risk Services since 2013. Kliethermes joined RLI in 2006 and has 36 years of insurance industry experience. Prior to joining RLI, he served in various actuarial and leadership roles with Lockton Companies,
Klobnak has served as Senior Vice President, Operations since 2016. Previously, she served as Senior Vice President, Risk Services since 2014. Klobnak joined RLI in 2000 and has 21 years of insurance industry experience. Prior to joining RLI, she served in an audit role with PwC.
“Both Craig and Jen have the leadership track record and breadth of business experience necessary to guide our organization forward, including a strong customer orientation, commitment to our people and core values, and focus on delivering value to shareholders,” said Michael. “This planned transition demonstrates the depth of our leadership team and long-term sustainability of our organization. I’m confident that RLI is well-positioned for continued success.”
“I’m honored by the confidence the board has placed in me and want to thank Jon for his outstanding leadership and stewardship of RLI,” Kliethermes stated. “I’m grateful for the opportunity to lead the continued growth of our extraordinary company. RLI has talented and passionate employee owners at its core. I look forward to working with them to build on the solid foundation and legacy that Jon and RLI Founder
“Strong relationships with our agents, customers and employees have been integral to our company’s success,” said Klobnak. “I look forward to continuing to work with the entire RLI team to enhance these relationships and advance our mission to protect customers from life’s uncertainties through industry-leading specialty risk management solutions, unmatched expertise and superior service.”
Following his planned retirement in December, current Chairman & CEO
ABOUT RLI
FORWARD LOOKING STATEMENTS
This news release may include forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from any future expectations expressed or implied in such forward-looking statements. Various risk factors that could affect future results are listed in the company’s filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20211110006249/en/
Vice President,
309-692-1000 x5438
Lisa.Gates@rlicorp.com
Source:
FAQ
Who has been appointed as the new CEO of RLI Corp.?
When did the leadership changes at RLI Corp. take effect?
What is the background of Craig W. Kliethermes?
How long did Jonathan E. Michael serve as CEO of RLI?