New board members elected at Argo Group
Three new members have been added to the board by Argo Group International Holdings Ltd, with five board members departing.
Shareholders of the Bermudian-based re/insurer have also approved a proposal to reduce the maximum size of the board to 11 from 13.
The three new board members elected by shareholders are Bernard Bailey, Fred Donner and Argo Group chief executive officer Kevin Rehnberg.
“Today marks several noteworthy milestones for Argo,” Thomas Bradley, Argo Group board chairman, said. “We appreciate the support from our shareholders approving meaningful governance enhancements and the election of the board. We are also pleased to welcome three new directors to the board who join with a tremendous amount of experience that will serve the company well as we look to the future.
“On behalf of the entire board, I would also like to thank the former directors completing their board tenure. The company has grown significantly and evolved into a strong specialty insurer under their direction. We appreciate their leadership, commitment and contributions to positioning this company for future success.”
Five former directors retiring from the board are former chairman Gary Woods, F. Sedgwick Brown, Hector De Leon, Mural Josephson and John Power.
Shareholders also approved a proposal to declassify the board — voting on the full board annually.