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ALL > SEC Filings for ALL > Form 8-K on 17-Nov-2011All Recent SEC Filings

Show all filings for ALLSTATE CORP



Other Events

Item 8.01. Other Events.

The Registrant is reporting that its board of directors has elected H. John Riley, Jr. as the corporation's independent lead director. The lead director presides at all board meetings at which the chairman is not present and at all executive sessions, serves as a liaison between the chairman and the independent directors, and approves board meeting schedules and agendas and information provided to the board. The lead director also has authority to call meetings of the independent directors. Previously the Registrant followed a "rotating" lead director model under which the responsibility for leading executive sessions of the board rotated among all of the independent directors.

Mr. Riley joined Allstate's board of directors in 1998 and has extensive senior-level strategic, operational, and financial management experience, as well as broad public board experience. "John is an excellent choice to serve as the corporation's lead director, a position for which he is extremely well suited," said Thomas J. Wilson, Allstate chairman, president, and chief executive officer. "John understands our business, has strong relationships with the entire board, and has participated in the development of our strategy to generate a 13% operating return on equity by 2014." Mr. Riley said, "In this expanded role, I look forward to working with Tom and the board on executing the corporation's plan to produce enhanced growth and improved operating returns over the next several years."

Mr. Riley served as chairman and chief executive officer of Cooper Industries, Ltd., a diversified manufacturer of electrical products, tools, and hardware for nearly 10 years until his retirement in 2006. Mr. Riley is also lead director at Baker Hughes Inc., and serves on the boards of Westlake Chemical Corporation and Post Oak Bank, N.A. He also serves as a trustee of the Museum of Fine Arts in Houston and Syracuse University.

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