Nationwide Mutual names Steve Rasmussen as CEO to succeed Jerry Jurgensen
FOR IMMEDIATE RELEASE
February 19, 2009
Contact:
Joe Case (614) 249-6353
casej6@nationwide.com
Columbus, Ohio — Nationwide Mutual Insurance Company announced today
that it has named President and Chief Operating Officer Steve Rasmussen
as Chief Executive Officer of the company. He replaces Jerry Jurgensen,
who has served as Nationwide’s CEO since 2000. Jurgensen and Nationwide’s
Board of Directors mutually agreed on the decision to leave the
company.
“We want to thank Jerry for his contributions over the last eight
years,” said Nationwide Mutual board member Keith Eckel. “Under his
leadership, the company has enhanced its financial discipline and has
developed what we believe is a winning strategy for the future. He leaves
the company in a strong financial position. We wish him well in his
future endeavors.”
“Nationwide is a fantastic company, and I have tremendous affection for
the entire Nationwide family,” Jurgensen said. “We believe we have
avoided the worst of the problems that have bedeviled the financial
sector and I look forward to pursuing new challenges that will benefit
from my leadership and experience.”
Regarding Rasmussen’s appointment as Nationwide’s new CEO, Eckel added:
“The Board of Directors is very pleased to have someone with Steve's
strong leadership skills and substantial experience move into the CEO
position. Steve has served as Nationwide Mutual's senior operating
executive for more than five years and has an excellent track record,
demonstrating the operational and managerial skill to ensure Nationwide’s
continued success.”
Rasmussen has been with Nationwide since 1998 and has been President and
Chief Operating Officer of Nationwide Mutual and Nationwide Mutual Fire
Insurance Company since September 2003. He has also served as chairman,
chief operating officer and director of Allied Group, Inc., a wholly
owned subsidiary of Nationwide Mutual and as a Director of several other
companies within Nationwide.
“I welcome the opportunity to lead Nationwide Mutual as its CEO at this
important time for the company,” Rasmussen said. “While it’s clear that
our entire industry face challenges, Nationwide’s capital position is
strong and we have the right strategy in place to grow market share. I
look forward to working with our entire team, including our business
partners and associates, as we deliver on our promise to provide superior
products and an outstanding customer experience for our
policyholders.”
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest
diversified insurance and financial services organizations in the world
and is rated A+ by A.M. Best. Nationwide ranks #108 on the Fortune 500
list. The company provides a full range of insurance and financial
services, including auto, motorcycle, boat, homeowners, life, farm,
commercial insurance, administrative services, annuities, mortgages,
mutual funds, pensions, long-term savings plans and health and
productivity services. For more information, visit www.nationwide.com.
Nationwide, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company.
