Stewart Announces Contract Extension for CEO Fred Eppinger
Stewart Information Services (NYSE:STC) announced a three-year contract extension for CEO Frederick H. Eppinger through 2028. Under Eppinger's five-year leadership since 2019, Stewart has more than doubled its market cap and increased market share to over 10%. Despite challenging market conditions including a global pandemic, Eppinger has led the company through thirty strategic acquisitions, expanded digital capabilities, and improved operational efficiency.
The company aims to achieve 15% market share and 11-12% pretax margins. Eppinger, who joined as CEO in September 2019 after serving as a director since 2016, has focused on strengthening Stewart's market position and driving sustained growth through one of the most challenging housing markets in history.
Stewart Information Services (NYSE:STC) ha annunciato un'estensione del contratto triennale per il CEO Frederick H. Eppinger fino al 2028. Sotto la guida di Eppinger, che dura da cinque anni dal 2019, Stewart ha più che raddoppiato la sua capitalizzazione di mercato e ha aumentato la quota di mercato a oltre il 10%. Nonostante le difficoltà del mercato, comprese una pandemia globale, Eppinger ha guidato l'azienda attraverso trenta acquisizioni strategiche, ha ampliato le capacità digitali e ha migliorato l'efficienza operativa.
La società mira a raggiungere il 15% di quota di mercato e margini ante imposte dell'11-12%. Eppinger, che è diventato CEO a settembre 2019 dopo aver ricoperto il ruolo di direttore dal 2016, si è concentrato sul rafforzamento della posizione di mercato di Stewart e sul dirigere una crescita sostenuta attraverso uno dei mercati immobiliari più difficili della storia.
Stewart Information Services (NYSE:STC) anunció una extensión de contrato de tres años para el CEO Frederick H. Eppinger hasta 2028. Bajo el liderazgo de Eppinger durante cinco años desde 2019, Stewart ha más que duplicado su capitalización de mercado y ha aumentado su participación de mercado a más del 10%. A pesar de las difíciles condiciones del mercado, incluida una pandemia global, Eppinger ha guiado a la empresa a través de treinta adquisiciones estratégicas, ha ampliado las capacidades digitales y ha mejorado la eficiencia operativa.
La empresa tiene como objetivo alcanzar una participación de mercado del 15% y márgenes antes de impuestos del 11-12%. Eppinger, quien asumió el cargo de CEO en septiembre de 2019 tras haber sido director desde 2016, se ha centrado en fortalecer la posición de mercado de Stewart y en impulsar un crecimiento sostenido en uno de los mercados de viviendas más desafiantes de la historia.
스튜어트 정보 서비스 (NYSE:STC)는 CEO 프레드릭 H. 에핑거(Frederick H. Eppinger)와의 계약을 2028년까지 3년 연장한다고 발표했습니다. 2019년부터 5년간 에핑거의 리더십 하에 스튜어트는 시장 가치를 두 배 이상 성장시켰고 시장 점유율을 10% 이상으로 증가시켰습니다. 글로벌 팬데믹을 포함한 어려운 시장 상황에도 불구하고, 에핑거는 회사를 30건의 전략적 인수를 통해 이끌고, 디지털 역량을 확장하며 운영 효율성을 개선했습니다.
회사는 15%의 시장 점유율과 11-12%의 세전 마진 달성을 목표로 하고 있습니다. 2016년 이사로 재직한 후 2019년 9월 CEO로 취임한 에핑거는 스튜어트의 시장 지위를 강화하고 역사상 가장 어려운 주택 시장 중 하나에서 지속 가능한 성장을 이끌기 위해 집중해 왔습니다.
Stewart Information Services (NYSE:STC) a annoncé une prolongation de contrat de trois ans pour le PDG Frederick H. Eppinger jusqu'en 2028. Sous le leadership d'Eppinger, qui dure depuis cinq ans depuis 2019, Stewart a plus que doublé sa capitalisation boursière et augmenté sa part de marché à plus de 10%. Malgré des conditions de marché difficiles, y compris une pandémie mondiale, Eppinger a dirigé l'entreprise à travers trente acquisitions stratégiques, a élargi les capacités numériques et a amélioré l'efficacité opérationnelle.
L'entreprise vise à atteindre une part de marché de 15% et des marges avant impôts de 11-12%. Eppinger, qui a rejoint en tant que PDG en septembre 2019 après avoir été directeur depuis 2016, s'est concentré sur le renforcement de la position de marché de Stewart et sur la promotion d'une croissance durable dans l'un des marchés immobiliers les plus difficiles de l'histoire.
Stewart Information Services (NYSE:STC) hat eine dreijährige Vertragsverlängerung für CEO Frederick H. Eppinger bis 2028 bekannt gegeben. Unter Eppingers fünfjähriger Leitung seit 2019 hat Stewart seinen Marktwert mehr als verdoppelt und den Marktanteil auf über 10% erhöht. Trotz herausfordernder Marktbedingungen, einschließlich einer globalen Pandemie, hat Eppinger das Unternehmen durch dreißig strategische Übernahmen geleitet, digitale Fähigkeiten ausgebaut und die operative Effizienz verbessert.
Das Unternehmen strebt an, einen Marktanteil von 15% sowie eine steuerliche Marge von 11-12% zu erreichen. Eppinger, der im September 2019 CEO wurde, nachdem er seit 2016 als Direktor tätig war, hat sich darauf konzentriert, die Marktposition von Stewart zu stärken und nachhaltiges Wachstum in einem der schwierigsten Immobilienmärkte der Geschichte voranzutreiben.
- Market cap more than doubled under current CEO leadership
- Market share increased to over 10%
- Successfully completed 30+ strategic acquisitions
- Clear growth targets: 15% market share and 11-12% pretax margins
- None.
Insights
The CEO contract extension for Fred Eppinger represents a strategic move to maintain leadership continuity at Stewart Information Services. Under his tenure, the company has achieved notable milestones including doubling market cap and increasing market share to over 10%. The ambitious targets of
Eppinger's track record includes executing over 30 strategic acquisitions, enhancing digital capabilities and driving operational efficiencies despite challenging market conditions. His leadership through the pandemic and housing market downturn while maintaining growth trajectory demonstrates effective crisis management. The three-year extension through 2028 provides stability and continuity for executing long-term strategic initiatives.
“In five years as CEO, Fred has guided Stewart by developing our strategy, capabilities and team, much in a down market, resulting in more than doubling our market cap and increasing market share to over 10 percent,” said Thomas G. Apel, Chairman of the Board. “Fred has built momentum, both financially and operationally. The Board is confident that Fred is the right leader for Stewart to continue delivering financial stability and shareholder value.”
“In my first three years at Stewart, my goal was to focus our company’s strengths and fortify our position in the market, and I’m extremely proud of the commitment and dedication of our employees to get behind this singular goal,” said Eppinger. “Now that we are five years into our mission, not only have we fortified Stewart as an industry leader, but we have grown our share of the market. The work is not done and I’m excited about the continued opportunities ahead to innovate, expand and enhance our value proposition for our employees and customers, and to see us execute on our plans to capture 15 percent market share and 11-12 percent pretax margins.”
Eppinger took over as CEO in September of 2019 after having served as a director of Stewart since 2016. Since assuming the CEO position, Eppinger has led the company through a global pandemic and driven sustained growth and momentum through one of the worst housing markets in history. Even when managing through these difficult macro conditions, he has remained relentless in his pursuit of growth, scale, and pretax margin improvement. Eppinger has hired best-in-class leaders, delivered on more than thirty strategic acquisitions, expanded the company’s digital and technological capabilities, built additional capacity into the system, and sought out ways to drive efficiencies through process and data management improvements. All these actions and more have enhanced the company’s market presence and its financial strength, helping to solidify Stewart’s position as a leader in the title insurance space for another 130 years.
About Stewart
Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage and real estate industries, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.
Cautionary statement regarding forward-looking statements. Certain statements in this press release are "forward-looking statements", including statements related to Stewart’s plans to achieve certain market share and pretax margin targets. Forward-looking statements, by their nature, are subject to various risks and uncertainties that could cause our actual results to differ materially. Such risks and uncertainties include the volatility of general economic conditions and adverse changes in the level of real estate activity, as well as a number of other risk and uncertainties discussed in detail in our documents filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023. We expressly disclaim any obligation to update, amend or clarify any forward-looking statements contained in this press release to reflect events or circumstances that may arise after the date hereof, except as may be required by applicable law.
ST-IR
View source version on businesswire.com: https://www.businesswire.com/news/home/20241203492253/en/
John Chattaway, Stewart Media Relations
(713) 625-8180; mediarelations@stewart.com
Source: Stewart Information Services Corporation
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