John H. Forsgren Elected Phoenix Chairman; Thomas S. Johnson Retires
HARTFORD, Conn.--(BUSINESS WIRE)-- The Phoenix Companies, Inc. (NYS: PNX) today announced the election of John H. Forsgren, 66, as chairman of its Board of Directors. Mr. Forsgren brings significant financial expertise to this leadership role, previously serving as chief financial officer of a public company and in financial functions for an array of businesses. He succeeds Thomas S. Johnson, 72, who retired as chairman and director in keeping with the Board's retirement guidelines.
"As a director, John has been a tremendous asset to the company," said James D. Wehr, president and chief executive officer. "We welcome his expanded leadership role as we continue to focus on profitable growth and building shareholder value."
Mr. Wehr added, "In 2009, Tom was chosen by his peers to serve as the Board's first-ever non-executive chairman. He led the Board through a series of important events and gave the company the benefit of his wisdom and integrity. We are grateful for his leadership during a particularly challenging time."
Mr. Forsgren joined the Phoenix Board of Directors in 2005. Most recently he chaired the Finance Committee and was a member of the Executive and Audit Committees. He was formerly vice chairman, executive vice president and chief financial officer of Northeast Utilities and previously held senior financial positions at The Walt Disney Company. He is a director of Trident Resources Corp., Port Townsend Paper Co., and Duke Energy Corporation.
Mr. Johnson joined the Board in 2000, was elected chairman in 2009 and previously was chairman of the Compensation Committee. He is the retired chairman and chief executive officer of GreenPoint Financial Corporation and was previously president and director of Manufacturers Hanover Trust Company and Manufacturers Hanover Corp. He is a director of R.R. Donnelley & Sons Company, Inc. and Alleghany Corporation.
Headquartered in Hartford, Connecticut, The Phoenix Companies, Inc. (NYS: PNX) is a boutique life insurance and annuity company serving customers' retirement and protection needs through select independent distributors. For more information, visit www.phoenixwm.com.
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