Business & Finance
Business and Finance
Business and Finance
Wed, February 25, 2009 The Hartford?s Tom Marra To Retire
HARTFORD, Conn.--([ BUSINESS WIRE ])--The Hartford Financial Services Group, Inc., (NYSE: HIG) today announced that Thomas M. Marra, the company's president and chief operating officer, will retire, effective July 3, 2009. The Hartford also announced that Marra has resigned from the company's Board of Directors, effective immediately.
"Tom has been a dedicated and committed executive of The Hartford for nearly 29 years and has made substantial contributions to this organization over that time," said Ramani Ayer, The Hartford's chairman and chief executive officer. "Tom drove the expansion and growth of our life business, significantly diversifying The Hartford's operations. As a result, The Hartford succeeded in achieving key leadership roles in significant markets. We thank Tom for his service to the company and we wish him well in all his future endeavors."
Ayer will now directly oversee The Hartford's property and casualty and life operations.
"The Hartford has been my home for 29 years and I have personally benefitted from the many people I have been fortunate enough to work with," said Marra. "From a business perspective, the timing is right. The new reporting structure will allow for more streamlined and decisive management and enable The Hartford to continue meeting the challenges of this dynamic, turbulent market."
About The Hartford
The Hartford is one of the nation's largest financial services companies and a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is [ www.thehartford.com ].
HIG-F
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
