BRANCHVILLE, N.J., Oct. 3, 2023
/PRNewswire/ -- Selective Insurance Group, Inc. (Nasdaq: SIGI)
today announced that Mark Wilcox,
Executive Vice President, Chief Financial Officer, has resigned
from Selective, effective November 3,
2023, to become CFO at another financial services company.
Mr. Wilcox will continue in his current position until after
Selective reports third quarter 2023 earnings.
Anthony (Tony) Harnett, Senior
Vice President, Chief Accounting Officer, will then assume the
additional role of Interim CFO until a permanent successor is
appointed. Selective has initiated a global search process to
identify a new CFO.
"Mark has been my trusted partner and an excellent leader of our
Finance team for nearly seven years," said John Marchioni, Selective's Chairman, President
and Chief Executive Officer. "On behalf of the Board of Directors
and our entire team, I thank Mark for his many contributions.
Throughout his time with Selective, we have continued to deliver
consecutive double-digit non-GAAP operating returns on equity. We
are pleased that he will assist us in a seamless transition and
wish him well in his future endeavors."
Mr. Wilcox said, "It has been an honor to be a part of Selective
and work alongside John and such a talented team. With its strong
financial profile and flexibility, I am confident that Selective is
well-positioned to continue delivering profitable growth over the
long term. I look forward to watching its continued success."
Mr. Marchioni continued, "We are fortunate to have someone of
Tony's caliber step into the Interim CFO role. Tony is a seasoned
executive with nearly 30 years of finance and accounting
experience. Having served as Selective's Chief Accounting Officer
since 2016, he has extensive knowledge of the Company and our
financials. We are confident that Tony, with the support of our
strong Finance team, is well equipped to support the continued
execution of our financial priorities while we search for a
permanent CFO."
The Company will announce its third quarter 2023 earnings on
Wednesday, November 1, 2023, after
market close and has scheduled a conference call to discuss results
on Thursday, November 2, 2023 at
11:00 AM ET.
About Tony Harnett
Mr. Harnett currently serves as Senior Vice President, Chief
Accounting Officer of Selective Insurance. He joined the Company in
1999 as a Senior Accountant and held various finance positions
before he was promoted to Vice President, Controller in 2008 and
Senior Vice President, Corporate Controller in 2010. He has
extensive experience in auditing, financial analysis and reporting,
and risk management. Mr. Harnett previously held financial roles at
Toys"R"Us and Deloitte. He earned a bachelor's degree in Accounting
from Albright College in Pennsylvania and is a member of the American
Institute of Certified Public Accountants and the Pennsylvania
Institute of Certified Public Accountants.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding
company for 10 property and casualty insurance companies rated "A+"
(Superior) by AM Best. Through independent agents, the insurance
companies offer standard and specialty insurance for commercial and
personal risks and flood insurance through the National Flood
Insurance Program's Write Your Own Program. Selective's unique
position as both a leading insurance group and an employer of
choice is recognized in a wide variety of awards and honors,
including listing in Forbes Best Midsize Employers in 2023 and
certification as a Great Place to Work® in 2023 for the
fourth consecutive year. For more information about Selective,
visit www.Selective.com.
Forward-Looking Statements
Certain statements in this report, including information
incorporated by reference, are "forward-looking statements" defined
in the Private Securities Litigation Reform Act of 1995
("PSLRA"). The PSLRA provides a forward-looking statement
safe harbor under the Securities Act of 1933 and the Securities
Exchange Act of 1934. These statements discuss our intentions,
beliefs, projections, estimations, or forecasts of future events
and financial performance. They involve known and unknown risks,
uncertainties, and other factors that may cause our or our
industry's actual results, activity levels, or performance to
materially differ from those in or implied by the forward-looking
statements. In some cases, forward-looking statements include
the words "may," "will," "could," "would," "should," "expect,"
"plan," "anticipate," "target," "project," "intend," "believe,"
"estimate," "predict," "potential," "pro forma," "seek," "likely,"
"continue," or comparable terms. Our forward-looking
statements are only predictions, and we cannot guarantee or assure
that such expectations will prove correct. We undertake no
obligation to publicly update or revise any forward-looking
statements for any reason, except as may be required by law.
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SOURCE Selective Insurance Group, Inc.