ST. PAUL (dpa-AFX) - The Travelers Companies, Inc. (TRV) announced that Alan Schnitzer will succeed Jay Fishman as CEO, effective December 1, 2015. Fishman will become Executive Chairman following Schnitzer's assumption of the CEO role.
Schnitzer is Chief Executive Officer of Travelers' Business and International Insurance, the company's largest business segment. Previously, he headed the company's Financial, Professional and International Insurance segment.
Jay Fishman said: 'Given the progression of the symptoms I have been experiencing since informing all of you of my illness, it appears likely that I am dealing with a variant of Amyotrophic Lateral Sclerosis, or ALS. While this is a progressive disease, anyone who has seen me can tell you that I am more than able to play an active role in Travelers' future.'
Brian MacLean, who will remain President and Chief Operating Officer, will also assume direct responsibility for the Business and International Insurance segment in addition to all of his current responsibilities.
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