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Selective Insurance Names New COO

CEO will relinquish title of president, as EVP Gregory E. Murphy gets promoted to president and COO.

By Rich Smith – Sep 11, 2013 at 3:41PM EST

Branchville, N.J.-based Selective Insurance Group (SIGI 2.01%) has a new COO.

On Wednesday, Selective Insurance announced that Chairman and Chief Executive Officer Gregory E. Murphy is relinquishing his former additional title of company President, and the company has named John Marchioni to become its new President and Chief Operating Officer. Murphy remains chairman and chief executive officer.

Marchioni will be in charge of the Actuarial, Human Resources, and Information Technology areas of Selective's business, in addition to overseeing Insurance Operations, as he has done since being named executive vice president for this division in December 2008.

In a filing with the SEC, Selective disclosed that Marchioni's new responsibilities will be compensated with a base annual salary of $725,000, plus a one-time grant of $600,000 worth of restricted stock units.

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About the Author

Rich Smith
Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”
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Stocks Mentioned

Selective Insurance Group Stock Quote
Selective Insurance Group
NASDAQ: SIGI
$79.94
(-2.01%)-$1.64

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