Torchmark Corp. (TMK) announced changes to the Company's executive leadership team. Effective June 1, 2012, Chairman and Chief Executive Officer Mark McAndrew, with 32 years of service to Torchmark, will step down as Chief Executive Officer. McAndrew will continue to serve in an executive capacity as Chairman of the Board of Directors.
The company said that its board of Directors has appointed Gary Coleman, currently Torchmark's Executive Vice President and Chief Financial Officer, and Larry Hutchison, currently Torchmark's Executive Vice President and General Counsel, as co-Chief Executive Officers, effective June 1, 2012.
Gary Coleman and Larry Hutchison have served Torchmark for 31 years and 26 years, respectively, and have complementary skill sets.
Torchmark also announced that Frank Svoboda, currently Torchmark's Vice President and Director of Tax, has been appointed Executive Vice President and Chief Financial Officer, and Robert Brian Mitchell, currently Senior Vice President and General Counsel of each of Torchmark's insurance subsidiaries, has been appointed Executive Vice President and General Counsel, effective June 1, 2012.
Coleman, 59, has been Torchmark's Chief Financial Officer since 1999. He joined Torchmark in 1981 (one year after its formation). Prior to that, he was with KPMG for seven years serving primarily insurance audit clients.
Hutchison, 58, has been Torchmark's General Counsel since 1999. He joined Torchmark in 1986. Prior to that, he served as a staff attorney for two different insurance companies.
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