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ROBERT B. WILLUMSTAD NAMED CHAIRMAN AND CEO OF COMMERCIAL CREDIT; MARJORIE MAGNER NAMED PRESIDENT AND CAO

 NEW YORK, June 28 /PRNewswire/ -- Robert B. Willumstad has been promoted to chairman and chief executive officer of Commercial Credit Company, a subsidiary of Primerica Corporation (NYSE: PA). In a related move, Marjorie Magner was named president and chief administrative officer of the consumer finance company.
 Mr. Willumstad, 47, succeeds Robert I. Lipp, who was named last week to the new post of group chief executive at Primerica. Mr. Willumstad joined Commercial Credit in 1987 from Chemical Bank, where he had spent the previous twenty years in operations, retail banking and computer systems. When he left Chemical, he was serving as president of Chemical Technologies Corporation.
 Ms. Magner, 44, succeeds Mr. Willumstad as Commercial Credit's president. She had been an executive vice president responsible for systems and operations, marketing, human resources and training, and field support services. She also joined Commercial Credit in 1987 from Chemical Bank, where she was a vice president and managing director of Chemical Technologies.
 "I am truly pleased that Commercial Credit is in such experienced, capable hands," said Mr. Lipp who, as Primerica's group chief executive, will oversee the management of all the company's consumer finance services operations, including Commercial Credit. "Bob Willumstad has a long and distinguished record of accomplishment both at our company and at his previous affiliation. Marge Magner has been equally critical to the growth and success of Commercial Credit, and the company has benefited greatly from her competence, expertise and enthusiasm."
 -0- 6/28/93
 /CONTACT: Mary McDermott, 212-891-8870 or Tim Bentley, 212-891-8871, both of Commercial Credit Company/
 (PA)


CO: Commercial Credit Company ST: New York IN: FIN SU: PER

WB-MG -- NY078 -- 6432 06/28/93 17:05 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
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