Progressive Appoints First Female Board Chair, Announces Gender and Race Pay Equity
MAYFIELD VILLAGE, Ohio, May 14, 2018 /PRNewswire/ — The Progressive Corporation (NYSE: PGR) today reported that the company’s Board of Directors elected Lawton W. Fitt as Chairperson. She joined Progressive’s Board in 2009, and has served as Lead Independent Director for the past two years. Fitt is a Retired Partner and Managing Director with Goldman Sachs. Progressive is currently the only publicly-traded Fortune 500 company with two women in its top leadership roles – CEO and Chairperson. As previously announced, Progressive Chairman Glenn Renwick has retired from the Board.
“I want to thank Glenn for his service to Progressive, as well as his friendship and mentorship, and wish him well in retirement,” said CEO Tricia Griffith. “And I want to congratulate Lawton on being elected Chairperson of the Board of Directors. She has been a powerful and thoughtful force on our Board, and I know she’ll be a great partner as we strive to make Progressive, consumer’s number one choice and destination for auto and other insurance.”
Also today, Progressive published a report outlining its diversity and inclusion efforts. This report highlights Progressive’s accomplishments, summarizes its opportunities and showcases its talent. In addition, the report includes the results of a companywide pay equity analysis and states that for Progressive employees with similar performance, experience, and job responsibilities, women earn at least $1 for every $1 earned by men and people of color earn at least $1 for every $1 earned by their white coworkers. The report is available at www.progressive.com/about/
“Our focus on diversity and inclusion and pay equity aren’t new at Progressive,” said Chief Human Resource Officer, Lori Niederst. “Our company culture and our reputation for treating our people fairly are big drivers of our success. We recognize this and work very hard to maintain this competitive advantage. We published this report to tell our story to our customers, shareholders and Progressive people.”
In other board changes, Bradley T, Sheares, Ph.D. retired, and shareholders elected two new members of the board, Pamela J. Craig and Kahina Van Dyke. Craig is a former Chief Financial Officer at Accenture, and she also comes with board experience at other large public companies. Van Dyke is the Global Director of Financial Services & Payment Partnerships at Facebook and she has prior work experience at Mastercard and Citigroup.
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Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot® and HomeQuote Explorer®.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.