Chris H. Cheesman Joins Alleghany Corporation Board of Directors

Rhea-AI Summary

Alleghany Corporation (NYSE: Y) has appointed Chris H. Cheesman as a new independent director, raising the Board's size from eight to nine members. Cheesman brings over 30 years of experience in the investment management industry, previously serving as Senior Vice President & Chief Audit Executive at AllianceBernstein. Her expertise in corporate governance, audit, risk management, and regulatory compliance is highly valued. Chairman Jefferson W. Kirby expressed confidence in her contributions to enhancing the board's leadership.

Positive

• Appointment of Chris H. Cheesman adds valuable expertise in corporate governance and risk management.
• Increased Board size may improve strategic decision-making and oversight.

Negative

• Transition period may cause temporary disruption as new director integrates into the Board.

NEW YORK, Sept. 21, 2021 /PRNewswire/ -- Alleghany Corporation (NYSE: Y) today announced that its Board of Directors has elected Chris H. Cheesman as a new independent director, increasing the size of the Board from eight to nine directors.

Ms. Cheesman is a member of the Board of Directors of American Century Investments' suite of equity mutual funds.  She is an accomplished senior executive with more than 30 years of experience in the global investment management industry and previously served as Senior Vice President & Chief Audit Executive at AllianceBernstein.  Ms. Cheesman started her career at Price Waterhouse (now PricewaterhouseCoopers).  She holds a B.A. from Hofstra University and is a Certified Public Accountant and Certified Financial Services Auditor.

"Chris is a terrific addition to the Board of Directors and the Alleghany family," said Jefferson W. Kirby, Chairman of Alleghany Corporation. "She brings extensive expertise in corporate governance, audit, risk management, and regulatory compliance, and we look forward to benefiting from her knowledge and leadership."

About Alleghany Corporation 

Alleghany Corporation creates value by owning and supporting its operating subsidiaries and managing investments, anchored by a core position in property and casualty reinsurance and insurance. Alleghany's property and casualty subsidiaries include: Transatlantic Holdings, Inc., a leading global reinsurer; RSUI Group, Inc., which underwrites wholesale specialty insurance coverages including property, casualty, professional liability and directors' and officers' liability; and CapSpecialty, Inc., an underwriter of commercial property, casualty and surety insurance coverages. Alleghany's subsidiary Alleghany Capital Corporation owns and supports a diverse portfolio of eight non-financial businesses.

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SOURCE Alleghany Corporation

FAQ

Who is Chris H. Cheesman and what is her background?

Chris H. Cheesman is a newly appointed independent director at Alleghany Corporation with over 30 years of experience in investment management and previously worked at AllianceBernstein.

What impact does Chris H. Cheesman's appointment have on Alleghany Corporation?

Her appointment is expected to enhance corporate governance and risk management practices within the company.

Why has Alleghany Corporation expanded its Board of Directors?

The Board expanded to include diverse expertise and strengthen its leadership capabilities.

What is the current size of Alleghany Corporation's Board of Directors after the appointment?

The Board size has increased from eight to nine members following Cheesman's appointment.