Safeco Corp. has announced the hiring of an energy company executive, Paula Rosput Reynolds, to become its president and chief executive officer Jan. 1.
She will succeed Mike McGavick, who has announced his U.S. Senate candidacy and will step down as chairman and CEO Dec. 31, the Seattle insurer said on Wednesday.
The Safeco board also elected Joseph W. "Jay" Brown to become nonexecutive chairman Jan. 1, succeeding Mr. McGavick in that role. Mr. Brown, 56, has been a Safeco director since 2001 and has extensive insurance industry experience.
Ms. Reynolds, 49, is the chairman, CEO, and president of AGL Resources, an Atlanta energy holding company that includes six natural gas utilities, wholesale services, and energy investments. Her 27 years in the energy business have included jobs in Houston and San Francisco.
She also was appointed to Safeco's board of directors. Mr. McGavick is to provide transition help for two months as a Safeco employee.
