Progressive names CEO Renwick as chairman
MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. has named President and CEO Glenn M. Renwick to the additional role of chairman following the death of previous chairman Peter Lewis on Saturday.
The insurer also said Monday that board member Stephen Hardis has been elected lead independent director.
Lewis had shepherded Progressive from a small-time operation to one of the largest auto insurers in the country. He was 80.
Lewis became chief executive officer of Progressive in 1965, built from the company his father co-founded in 1937. Lewis held the leadership post for 35 years, during which Progressive steadily grew.
Renwick said the company owes its growth and its culture of openness to Lewis.
Shares of the Mayfield Village, Ohio, company gained 16 cents to $27.83 in morning trading Monday. Its shares have risen 31 percent so far this year.